Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Sees Significant Drop in Short-Term Interest

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Western Asset Municipal High Income Fund Inc. (NYSE:MHF) saw a significant decline in short interest in January. As of January 31, there was short interest totaling 1,700 shares, down 82.7% from the total of 9,800 shares as of January 15. Based on an average trading volume of 27,100 shares, the short-term interest rate ratio is currently 0.1 day.

Several institutional investors have recently changed their holdings in MHF. Steward Partners Investment Advisory LLC increased its stake in shares of Western Asset Municipal High Income Fund by 25.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,030 shares of the financial services provider worth $56,000 after buying 1,425 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Western Asset Municipal High Income Fund by 69.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,290 shares of the financial services provider worth $87,000 after buying 4,223 additional shares in the last quarter. Reuter James Wealth Management LLC acquired a new stake in shares of Western Asset Municipal High Income Fund in the fourth quarter for a value of $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, XML Financial LLC acquired a new position in Western Asset Municipal High Income Fund during Q3, valued at $123,000. Institutional investors and hedge funds own 12.12% of the company’s shares.

MHF stock traded down $0.07 during Friday trading hours, hitting $7.43. The company’s stock had a trading volume of 31,340 shares, compared to an average volume of 36,681. The Western Asset Municipal High Income Fund has a 12-month low of $7.21 and a 12-month high of $8.91. The stock has a 50-day moving average price of $7.77 and a 200-day moving average price of $8.05.

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The company also recently announced a monthly dividend, which will be paid on Tuesday, March 1. Shareholders of record on Friday, February 18 will receive a dividend of $0.0198. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, February 17.

Western Asset Municipal High Income Fund Company Profile

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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