Western Asset Municipal High Income Fund (NYSE:MHF) Stock Price Up 0.4% – Time to Buy?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price traded up 0.4% during mid-day trading on Monday . The company traded as high as $6.87 and last traded at $6.86. 99,021 shares changed hands during trading, an increase of 71% from the average session volume of 57,904 shares. The stock had previously closed at $6.83.

Western Asset Municipal High Income Fund Trading Up 0.4%

The firm’s 50-day moving average price is $6.97 and its 200 day moving average price is $7.00.

Western Asset Municipal High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.034 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 5.9%.

Hedge Funds Weigh In On Western Asset Municipal High Income Fund

A number of large investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC grew its position in Western Asset Municipal High Income Fund by 11.6% during the second quarter. ORG Wealth Partners LLC now owns 78,774 shares of the financial services provider’s stock worth $555,000 after buying an additional 8,212 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Western Asset Municipal High Income Fund during the second quarter worth about $190,000. Wealthcare Advisory Partners LLC grew its holdings in shares of Western Asset Municipal High Income Fund by 16.8% during the second quarter. Wealthcare Advisory Partners LLC now owns 20,850 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 3,000 shares in the last quarter. Invesco Ltd. bought a new position in shares of Western Asset Municipal High Income Fund in the first quarter worth approximately $475,000. Finally, Guggenheim Capital LLC raised its stake in Western Asset Municipal High Income Fund by 24.0% in the second quarter. Guggenheim Capital LLC now owns 505,298 shares of the financial services provider’s stock valued at $3,512,000 after purchasing an additional 97,670 shares in the last quarter.

Western Asset Municipal High Income Fund Company Profile

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.