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MHF

Western Asset Municipal High Income Fund
MHF

45 hedge funds and large institutions have $25.7M invested in Western Asset Municipal High Income Fund in 2019 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 17 increasing their positions, 8 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

113% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 8

5% less capital invested

Capital invested by funds: $27M → $25.7M (-$1.24M)

1.05% less ownership

Funds ownership: 16.95% → 15.9% (-1%)

4% less funds holding

Funds holding: 47 → 45 (-2)

33% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 6

Holders
45
Holders Change
-2
Holders Change %
-4.26%
% of All Funds
0.98%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
17
Reduced
8
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UCFA
United Capital Financial Advisors
Texas
+$404K
2
RJA
Raymond James & Associates
Florida
+$290K
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$256K
4
HH
Hilltop Holdings
Texas
+$148K
5
TJHA
Thomas J. Herzfeld Advisors
Florida
+$128K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$2.27M
2
Morgan Stanley
Morgan Stanley
New York
-$317K
3
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$145K
4
BAS
Brown Advisory Securities
Maryland
-$132K
5
DWM
Dakota Wealth Management
Florida
-$132K
Name Holding Trade Value Shares
Change 		Change in
Stake
LCM
26
Landscape Capital Management
New Jersey
$111K -$95.2K -12,806 -47%
Royal Bank of Canada
27
Royal Bank of Canada
Ontario, Canada
$103K +$22.3K +3,000 +28%
LPL Financial
28
LPL Financial
California
$101K +$16.5K +2,217 +20%
CCFM
29
Clear Creek Financial Management
Washington
$86K +$84.5K +11,367 New
BCI
30
Brinker Capital Investments
Pennsylvania
$83K +$81.4K +10,949 New
CA
31
Calton & Associates
Florida
$82K – – –
QCIG
32
Quad-Cities Investment Group
Iowa
$56K +$112 +15 +0.2%
WCG
33
Weaver Consulting Group
California
$53K – – –
US Bancorp
34
US Bancorp
Minnesota
$52K – – –
AIM
35
Advantage Investment Management
Iowa
$46K – – –
RCAG
36
Rehmann Capital Advisory Group
Michigan
$45.4K – – –
LTFS
37
Ladenburg Thalmann Financial Services
Florida
$35K +$119 +16 +0.4%
FHA
38
Flagship Harbor Advisors
Massachusetts
$26K – – –
HPC
39
HM Payson & Co
Maine
$22K – – –
SPIA
40
Steward Partners Investment Advisory
New York
$20K +$19.7K +2,646 New
ClearBridge Investments
41
ClearBridge Investments
New York
$17K – – –
Fifth Third Bancorp
42
Fifth Third Bancorp
Ohio
$13K – – –
AF
43
Advisornet Financial
Minnesota
$11K – – –
TCM
44
Tradewinds Capital Management
Washington
$7K – – –
FIA
45
FNY Investment Advisers
New York
$1K +$149 +20 +14%
NDSI
46
Newman Dignan & Sheerar Inc
Rhode Island
$320 +$3.22K +433 +1%
BAS
47
Brown Advisory Securities
Maryland
– -$132K -17,809 Closed
DWM
48
Dakota Wealth Management
Florida
– -$132K -17,785 Closed
SB
49
Suntrust Banks
Georgia
– -$91K -12,285 Closed
Cambridge Investment Research Advisors
50
Cambridge Investment Research Advisors
Iowa
– -$90K -12,210 Closed
1
2
3

MHF Hedge Fund Activity: Q2 2019 in Review

45 of the 4,604 institutional investors tracked by Wall St. Rank reported a position in Western Asset Municipal High Income Fund (MHF) for Q2 2019, worth a combined $25.7M — down 4.6% from $27M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of MHF and 4 opened new positions — a net loss of 2 holders — while 8 trimmed existing stakes and 17 added.

The largest buyer was United Capital Financial Advisors, adding an estimated $404K. The largest seller was Karpus Investment Management, cutting an estimated $2.27M.

  • 45 institutional investors held Western Asset Municipal High Income Fund (MHF) as of Q2 2019, down from 47 in Q1 2019.
  • Funds reported $25.7M of Western Asset Municipal High Income Fund stock for Q2 2019, down 4.6% quarter-over-quarter.
  • 4 funds opened new Western Asset Municipal High Income Fund positions in Q2 2019 and 6 closed out, a net change of -2 holders.
  • The largest Western Asset Municipal High Income Fund buyer in Q2 2019 was United Capital Financial Advisors, an estimated $404K added.
  • The largest Western Asset Municipal High Income Fund seller in Q2 2019 was Karpus Investment Management, an estimated $2.27M sold.

Based on aggregated 13F filings for Q2 2019.