Western Asset Municipal High Income Fund (NYSE:MHF) Shares Cross Below 50-Day Moving Average – Time to Sell?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.92 and traded as low as $6.80. Western Asset Municipal High Income Fund shares last traded at $6.85, with a volume of 94,604 shares trading hands.

Western Asset Municipal High Income Fund Stock Performance

The company’s 50-day moving average price is $6.92 and its 200 day moving average price is $6.91.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Hedge funds have recently modified their holdings of the business. 49 Wealth Management LLC bought a new position in shares of Western Asset Municipal High Income Fund in the second quarter worth about $255,000. Bank of America Corp DE purchased a new stake in Western Asset Municipal High Income Fund in the 2nd quarter worth approximately $4,105,000. Northwestern Mutual Wealth Management Co. bought a new stake in Western Asset Municipal High Income Fund during the 2nd quarter worth approximately $242,000. Kestra Advisory Services LLC purchased a new position in Western Asset Municipal High Income Fund during the fourth quarter valued at approximately $43,000. Finally, Private Advisor Group LLC purchased a new position in Western Asset Municipal High Income Fund during the third quarter valued at approximately $73,000.

About Western Asset Municipal High Income Fund

Western Asset Municipal High Income Fund Inc is a closed-end management investment company that seeks to provide high current income exempt from federal income taxes. The fund primarily invests in U.S. municipal securities, with an emphasis on high-yield bonds issued by state and local governments, authorities and agencies. Its portfolio may include general obligation bonds, revenue bonds, pre-refunded bonds, insured securities and variable-rate instruments, with the goal of delivering attractive tax-advantaged yields for shareholders.

The fund is managed by Western Asset Management Company, LP, a global fixed-income specialist and subsidiary of Franklin Resources, Inc Western Asset’s investment team employs a disciplined, research-driven approach, combining top-down macroeconomic analysis with bottom-up credit research to identify opportunities across the municipal bond market.