Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Stock Short Interest Jumps 253.2%

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 48,800 shares, a growth of 253.2% from the September 30th total of 13,816 shares. Based on an average trading volume of 138,245 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Western Asset Municipal High Income Fund Trading Down 1.1%

Shares of NYSE:MHF traded down $0.07 during trading on Friday, hitting $6.49. 43,525 shares of the company were exchanged, compared to its average volume of 69,612. Western Asset Municipal High Income Fund has a 52-week low of $5.84 and a 52-week high of $7.22. The stock has a 50 day moving average of $6.47 and a 200 day moving average of $6.81.

Western Asset Municipal High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a dividend of $0.0340 per share. This represents a $0.41 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset Municipal High Income Fund

A number of institutional investors have recently added to or reduced their stakes in MHF. Bank of America Corp DE bought a new stake in shares of Western Asset Municipal High Income Fund during the second quarter valued at about $4,105,000. Royal Bank of Canada boosted its position in shares of Western Asset Municipal High Income Fund by 441.2% in the first quarter. Royal Bank of Canada now owns 50,356 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 41,052 shares during the period. 49 Wealth Management LLC purchased a new position in Western Asset Municipal High Income Fund during the second quarter valued at approximately $255,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Western Asset Municipal High Income Fund during the second quarter valued at approximately $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.