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

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Western Asset Municipal High Income Fund Inc. (NYSE: MHF – Get a rating) benefited from a significant drop in short interest rates in May. As of May 15, there was short interest totaling 23,900 shares, down 44.3% from April 30’s total of 42,900 shares. Based on an average daily trading volume of 49,100 shares, the short-term interest rate ratio is currently 0.5 days.

The NYSE MHF traded at $0.10 at midday on Friday, hitting $6.97. The company‘s shares had a trading volume of 145,765 shares, compared to an average trading volume of 45,789. The Western Asset Municipal High Income Fund has a 52-week low of $6.53 and a 52-week high of 8, $91. The stock’s fifty-day simple moving average is $6.80 and its two-hundred-day simple moving average is $7.39.

The company also recently announced a monthly dividend, which will be paid on Thursday, September 1. Shareholders of record on Wednesday August 24 will receive a dividend of $0.0198 per share. The ex-dividend date is Tuesday, August 23. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 3.41%.

Institutional investors and hedge funds have recently been buying and selling shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Western Asset Municipal High Income Fund by 25.4% during the fourth 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. Susquehanna International Group LLP purchased a new stake in shares of Western Asset Municipal High Income Fund in the fourth quarter for $84,000. Reuters James Wealth Management LLC bought a new stake in shares of Western Asset Municipal High Income Fund in the fourth quarter for $104,000. LPL Financial LLC increased its stake in shares of Western Asset Municipal High Income Fund by 25.0% in the third quarter. LPL Financial LLC now owns 14,995 shares of the financial services provider worth $119,000 after buying an additional 3,000 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Western Asset Municipal High Income Fund in the first quarter for a value of $124,000. Institutional investors hold 18.66% of the company’s shares.

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Western Asset Municipal High Income Fund Company Profile (Get a rating)

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.

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