Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Sees Significant Decline in Short Interest

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 103,200 shares, a drop of 14.6% from the February 28th total of 120,800 shares. Based on an average daily volume of 70,700 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the shares of the company are short sold.

Western Asset Municipal High Income Fund Price Performance

Shares of MHF opened at $7.43 on Friday. Western Asset Municipal High Income Fund has a 1 year low of $6.51 and a 1 year high of $7.83. The company’s fifty day moving average is $7.39 and its two-hundred day moving average is $7.19.

Western Asset Municipal High Income Fund Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.034 per share. The ex-dividend date was Monday, March 24th. This represents a dividend yield of 5.34%.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of Western Asset Municipal High Income Fund by 14.4% during the 4th quarter. Jones Financial Companies Lllp now owns 62,321 shares of the financial services provider’s stock worth $424,000 after buying an additional 7,843 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Western Asset Municipal High Income Fund by 4.2% in the fourth quarter. Van ECK Associates Corp now owns 111,950 shares of the financial services provider’s stock valued at $761,000 after acquiring an additional 4,543 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Western Asset Municipal High Income Fund during the 4th quarter worth $6,569,000. HighTower Advisors LLC grew its stake in shares of Western Asset Municipal High Income Fund by 1.5% during the 4th quarter. HighTower Advisors LLC now owns 125,811 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 1,901 shares during the period. Finally, Independent Advisor Alliance purchased a new position in shares of Western Asset Municipal High Income Fund in the 4th quarter valued at about $128,000.

Western Asset Municipal High Income Fund Company Profile

Western Asset Municipal High Income Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company. The fund invests in the fixed income markets of the United States. It invests primarily in intermediate and long-term municipal debt securities issued by state and local governments including U.S.