Short Interest in Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Expands By 389.4%

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 58,485 shares, a growth of 389.4% from the April 30th total of 11,950 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,331 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On Western Asset Municipal High Income Fund

Several large investors have recently bought and sold shares of MHF. Raymond James Financial Inc. increased its holdings in Western Asset Municipal High Income Fund by 1.0% in the third quarter. Raymond James Financial Inc. now owns 1,046,548 shares of the financial services provider’s stock worth $7,567,000 after purchasing an additional 10,603 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Western Asset Municipal High Income Fund by 0.4% during the third quarter. Bank of America Corp DE now owns 585,215 shares of the financial services provider’s stock valued at $4,231,000 after buying an additional 2,350 shares during the last quarter. Titleist Asset Management LLC purchased a new position in shares of Western Asset Municipal High Income Fund during the fourth quarter valued at approximately $2,863,000. LPL Financial LLC boosted its position in shares of Western Asset Municipal High Income Fund by 17.0% during the fourth quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider’s stock valued at $2,681,000 after buying an additional 56,526 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in shares of Western Asset Municipal High Income Fund by 8.5% during the third quarter. Prospera Financial Services Inc now owns 166,418 shares of the financial services provider’s stock valued at $1,203,000 after buying an additional 13,007 shares during the last quarter.

Western Asset Municipal High Income Fund Price Performance

Western Asset Municipal High Income Fund stock traded down $0.01 during trading hours on Friday, hitting $6.95. The stock had a trading volume of 45,876 shares, compared to its average volume of 49,455. Western Asset Municipal High Income Fund has a one year low of $6.61 and a one year high of $7.64. The business’s 50 day simple moving average is $6.89 and its 200-day simple moving average is $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The company 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 $0.034 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 5.9%.

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.