Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Short Interest Up 53.9% in March

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 53,033 shares, an increase of 53.9% from the March 15th total of 34,455 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 66,372 shares, the days-to-cover ratio is currently 0.8 days.

Western Asset Municipal High Income Fund Stock Performance

MHF stock opened at $6.94 on Thursday. The business has a 50 day moving average price of $6.91 and a two-hundred day moving average price of $6.96. Western Asset Municipal High Income Fund has a twelve month low of $6.61 and a twelve month high of $7.64.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a $0.034 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, May 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Redwood Family Wealth LLC bought a new position in Western Asset Municipal High Income Fund in the fourth quarter valued at approximately $177,000. Astoria Portfolio Advisors LLC. bought a new position in Western Asset Municipal High Income Fund in the fourth quarter valued at approximately $119,000. XTX Topco Ltd bought a new position in Western Asset Municipal High Income Fund in the fourth quarter valued at approximately $151,000. Fortitude Advisory Group L.L.C. grew its stake in Western Asset Municipal High Income Fund by 20.5% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 4,702 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Western Asset Municipal High Income Fund in the fourth quarter valued at approximately $43,000.

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.