Western Asset Municipal High Income Fund Inc. (NYSE:MHF) sees sharp rise in short-term interest

Western Asset Municipal High Income Fund Inc. (NYSE: MHF – Get a rating) saw strong growth in short-term interest in August. As of August 15, there were short interests totaling 39,000 shares, a growth of 1,757.1% from the total of 2,100 shares as of July 31. Based on an average daily volume of 46,800 shares, the short interest ratio is currently 0.8 days.

Western Asset Municipal High Income Fund shares rise 0.1%

Shares of NYSE:MHF traded down $0.01 on Friday, hitting $6.71. The stock recorded trading volume of 21,876 shares, compared to an average trading volume of 47,215 shares. Western Asset Municipal High Income Fund has a 12-month low of $6.40 and a 12-month high of $8.91. The company’s 50-day moving average price is $6.71 and its 200-day moving average price is $6.85.

Western Asset Municipal High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 1. Investors of record on Tuesday, November 22 will receive a dividend of $0.0198 per share. The ex-dividend date is Monday, November 21. This represents an annualized dividend of $0.24 and a yield of 3.54%.

Institutional entries and exits

Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. Steward Partners Investment Advisory LLC increased its position in Western Asset Municipal High Income Fund by 25.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,030 shares of the financial services provider valued at $56,000 after purchasing an additional 1,425 shares during the period. LPL Financial LLC increased its position in Western Asset Municipal High Income Fund by 17.2% during the second quarter. LPL Financial LLC now owns 20,395 shares of the financial services provider valued at $134,000 after purchasing an additional 3,000 shares during the period. UBS Group AG increased its position in Western Asset Municipal High Income Fund by 9.4% during the second quarter. UBS Group AG now owns 44,040 shares of the financial services provider valued at $289,000 after purchasing an additional 3,770 shares during the period. US Bancorp DE increased its position in Western Asset Municipal High Income Fund by 561.0% during the second quarter. US Bancorp DE now owns 4,713 shares of the financial services provider valued at $31,000 after purchasing an additional 4,000 shares during the period. Finally, Prospera Financial Services Inc increased its position in Western Asset Municipal High Income Fund by 5.9% during the 1st quarter. Prospera Financial Services Inc now owns 81,820 shares of the financial services provider valued at $576,000 after purchasing an additional 4,551 shares during the period. Institutional investors and hedge funds hold 18.66% of the company’s shares.

Western Asset Municipal High Income Fund Company Profile

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Western Asset Municipal High Income Fund Inc is a closed-end, fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company. The fund invests in US bond markets. It invests primarily in medium to long-term municipal debt securities issued by state and local governments, including the United States.

Further reading

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