Western Asset Municipal High Income Fund (NYSE:MHF) Stock Passes Below 50 Day Moving Average – What’s Next?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.92 and traded as low as $6.90. Western Asset Municipal High Income Fund shares last traded at $6.93, with a volume of 83,171 shares.

Western Asset Municipal High Income Fund Stock Performance

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

Western Asset Municipal High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a $0.034 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.9%.

Institutional Trading of Western Asset Municipal High Income Fund

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Western Asset Municipal High Income Fund by 441.2% in 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 last quarter. Redwood Family Wealth LLC purchased a new stake in Western Asset Municipal High Income Fund in the fourth quarter worth $177,000. Astoria Portfolio Advisors LLC. purchased a new stake in Western Asset Municipal High Income Fund in the fourth quarter worth $119,000. XTX Topco Ltd purchased a new stake in Western Asset Municipal High Income Fund in the fourth quarter worth $151,000. Finally, Fortitude Advisory Group L.L.C. increased its position in Western Asset Municipal High Income Fund by 20.5% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider’s stock worth $190,000 after buying an additional 4,702 shares during 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.