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

Shares of Western Asset Municipal High Income Fund Inc. (NYSE:MHF) crossed above its fifty day moving average during trading on Friday. The stock has a fifty 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 stock’s 50 day moving average is $6.42 and its two-hundred day moving average is $6.79.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Several hedge funds have recently made changes to their positions in MHF. Collaborative Wealth Managment Inc. lifted its position in Western Asset Municipal High Income Fund by 152.5% during the 3rd quarter. Collaborative Wealth Managment Inc. now owns 37,878 shares of the financial services provider’s stock worth $228,000 after buying an additional 22,878 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of Western Asset Municipal High Income Fund during the 3rd quarter worth approximately $67,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Western Asset Municipal High Income Fund during the 3rd quarter worth approximately $241,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Western Asset Municipal High Income Fund by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,505 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 2,170 shares during the period. Finally, 49 Wealth Management LLC bought a new position in shares of Western Asset Municipal High Income Fund during the second quarter worth approximately $255,000.

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.