Western Asset Municipal High Income Fund (NYSE:MHF) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $6.92 and traded as high as $7.20. Western Asset Municipal High Income Fund shares last traded at $7.0420, with a volume of 101,056 shares trading hands.

Western Asset Municipal High Income Fund Trading Up 0.2%

The stock has a fifty day simple moving average of $6.92 and a 200-day simple moving average of $6.92.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.034 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Several institutional investors have recently added to or reduced their stakes in MHF. Raymond James Financial Inc. boosted 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 valued at $7,567,000 after purchasing an additional 10,603 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 worth $4,231,000 after purchasing an additional 2,350 shares in the last quarter. Titleist Asset Management LLC acquired a new stake in Western Asset Municipal High Income Fund during the fourth quarter worth approximately $2,863,000. LPL Financial LLC lifted its position in shares of Western Asset Municipal High Income Fund by 17.0% during the 4th quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider’s stock worth $2,681,000 after buying an additional 56,526 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Western Asset Municipal High Income Fund by 21.2% during the 4th quarter. Van ECK Associates Corp now owns 96,283 shares of the financial services provider’s stock worth $662,000 after buying an additional 16,843 shares during the last quarter.

About Western Asset Municipal High Income Fund

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.