Western Asset Municipal High Income Fund (NYSE:MHF) Shares Up 0.4% – Here’s What Happened

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s stock price was up 0.4% during trading on Monday . The company traded as high as $6.87 and last traded at $6.86. Approximately 99,021 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 57,904 shares. The stock had previously closed at $6.83.

Western Asset Municipal High Income Fund Price Performance

The firm’s 50 day moving average price is $6.97 and its 200-day moving average price is $7.00.

Western Asset Municipal High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a $0.034 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 5.9%.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Large investors have recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC lifted its stake in Western Asset Municipal High Income Fund by 68.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 4,220 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,720 shares in the last quarter. Bank of America Corp DE boosted its holdings in Western Asset Municipal High Income Fund by 0.4% in the 3rd quarter. Bank of America Corp DE now owns 585,215 shares of the financial services provider’s stock valued at $4,231,000 after purchasing an additional 2,350 shares during the period. Wealthcare Advisory Partners LLC lifted its position in shares of Western Asset Municipal High Income Fund by 16.8% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 20,850 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 3,000 shares during the period. Osaic Holdings Inc. increased its stake in shares of Western Asset Municipal High Income Fund by 113.9% in the 2nd quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 3,900 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its stake in shares of Western Asset Municipal High Income Fund by 11.6% in the 2nd quarter. ORG Wealth Partners LLC now owns 78,774 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 8,212 shares during the last quarter.

Western Asset Municipal High Income Fund Company Profile

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.