Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Sees Large Drop in Short Interest
by Renee Jackson · The Cerbat GemWestern Asset Municipal High Income Fund Inc. (NYSE:MHF – Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 35,054 shares, a decline of 33.9% from the March 31st total of 53,033 shares. Based on an average daily trading volume, of 54,664 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the company’s shares are short sold.
Western Asset Municipal High Income Fund Stock Up 0.6%
Shares of NYSE MHF traded up $0.04 during trading on Thursday, hitting $6.85. 57,698 shares of the company traded hands, compared to its average volume of 46,578. Western Asset Municipal High Income Fund has a 1 year low of $6.61 and a 1 year high of $7.64. The company has a 50-day moving average price of $6.89 and a 200-day moving average price of $6.94.
Western Asset Municipal High Income Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.034 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 6.0%.
Institutional Trading of Western Asset Municipal High Income Fund
Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. lifted its holdings in shares of Western Asset Municipal High Income Fund by 1.0% during the 3rd quarter. Raymond James Financial Inc. now owns 1,046,548 shares of the financial services provider’s stock valued at $7,567,000 after acquiring an additional 10,603 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Western Asset Municipal High Income Fund by 0.4% during 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 acquiring an additional 2,350 shares in the last quarter. Titleist Asset Management LLC acquired a new position in shares of Western Asset Municipal High Income Fund during the 4th quarter valued at $2,863,000. LPL Financial LLC lifted its holdings in shares of Western Asset Municipal High Income Fund by 17.0% during the 4th quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider’s stock valued at $2,681,000 after acquiring an additional 56,526 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in shares of Western Asset Municipal High Income Fund by 8.5% during the 3rd quarter. Prospera Financial Services Inc now owns 166,418 shares of the financial services provider’s stock valued at $1,203,000 after acquiring an additional 13,007 shares in the last quarter.
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.