Western Asset Municipal High Income Fund (NYSE:MHF) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.92 and traded as low as $6.88. Western Asset Municipal High Income Fund shares last traded at $6.8810, with a volume of 28,399 shares trading hands.

Western Asset Municipal High Income Fund Trading Down 0.1%

The stock has a 50 day moving average price of $6.89 and a two-hundred day moving average price of $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.034 per share. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Western Asset Municipal High Income Fund by 441.2% during the first quarter. Royal Bank of Canada now owns 50,356 shares of the financial services provider’s stock worth $349,000 after buying an additional 41,052 shares during the period. Redwood Family Wealth LLC purchased a new position in Western Asset Municipal High Income Fund in the 4th quarter worth $177,000. Astoria Portfolio Advisors LLC. purchased a new position in Western Asset Municipal High Income Fund in the 4th quarter worth $119,000. XTX Topco Ltd acquired a new stake in Western Asset Municipal High Income Fund during the 4th quarter worth about $151,000. Finally, Fortitude Advisory Group L.L.C. lifted its position in Western Asset Municipal High Income Fund by 20.5% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 4,702 shares during the period.

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.