Western Asset Municipal High Income Fund (NYSE:MHF) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $6.42 and traded as high as $6.60. Western Asset Municipal High Income Fund shares last traded at $6.5490, with a volume of 111,537 shares traded.

Western Asset Municipal High Income Fund Stock Performance

The firm has a 50 day moving average price of $6.42 and a 200-day moving average price of $6.79.

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 company. Bank of America Corp DE bought a new stake in Western Asset Municipal High Income Fund in the 2nd quarter valued at about $4,105,000. Royal Bank of Canada grew its position in shares of Western Asset Municipal High Income Fund by 441.2% in the 1st quarter. Royal Bank of Canada now owns 50,356 shares of the financial services provider’s stock worth $349,000 after buying an additional 41,052 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Western Asset Municipal High Income Fund during the 3rd quarter valued at about $241,000. 49 Wealth Management LLC purchased a new stake in Western Asset Municipal High Income Fund during the 2nd quarter valued at $255,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Asset Municipal High Income Fund during the 2nd quarter valued at about $242,000.

About Western Asset Municipal High Income Fund

Western Asset Municipal High Income Fund Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol MHF. The fund is managed by Western Asset Management Company, LLC, an investment manager specializing in fixed-income strategies.

The fund seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. It generally invests in municipal securities issued by states, municipalities, public authorities and other governmental entities, with an emphasis on higher-yielding and potentially lower-rated municipal bonds.

Its portfolio may include tax-exempt debt issued for a range of public purposes, such as essential services, infrastructure and other governmental or community projects.