Insider Selling: Western Asset Managed Municipals Fund, Inc. (MMU) Director Sells 2,000 Shares of Stock

Western Asset Managed Municipals Fund, Inc. (NYSE:MMU) Director William R. Hutchinson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $14.25, for a total transaction of $28,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Western Asset Managed Municipals Fund, Inc. (MMU) traded up $0.11 during mid-day trading on Friday, reaching $14.42. 37,400 shares of the company’s stock traded hands, compared to its average volume of 72,613. Western Asset Managed Municipals Fund, Inc. has a 52-week low of $13.35 and a 52-week high of $14.60.

The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 22nd will be issued a $0.063 dividend. This represents a $0.76 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, December 21st.

Hedge funds have recently added to or reduced their stakes in the business. Iberiabank Corp bought a new position in Western Asset Managed Municipals Fund in the 3rd quarter valued at about $252,000. Paragon Capital Management Ltd acquired a new stake in shares of Western Asset Managed Municipals Fund in the 3rd quarter valued at approximately $922,000. Van ECK Associates Corp boosted its stake in shares of Western Asset Managed Municipals Fund by 33.4% in the 2nd quarter. Van ECK Associates Corp now owns 83,387 shares of the financial services provider’s stock valued at $1,150,000 after purchasing an additional 20,860 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Western Asset Managed Municipals Fund by 12.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 114,399 shares of the financial services provider’s stock valued at $1,579,000 after purchasing an additional 12,866 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Western Asset Managed Municipals Fund by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 20,714 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 3,319 shares in the last quarter. 12.14% of the stock is currently owned by hedge funds and other institutional investors.

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About Western Asset Managed Municipals Fund

Western Asset Managed Municipals Fund Inc is a non-diversified, closed-end management investment company. The Fund seeks to maximize current income exempt from federal income tax as is consistent with preservation of principal. It seeks to achieve its objective by investing primarily in long-term investment grade municipal debt securities issued by state and local governments, political subdivisions, agencies and public authorities (municipal obligations).

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