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MHF

Western Asset Municipal High Income Fund
MHF

47 hedge funds and large institutions have $20M invested in Western Asset Municipal High Income Fund in 2019 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 16 increasing their positions, 11 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 4 | Existing positions closed: 2

45% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 11

4% more funds holding

Funds holding: 45 → 47 (+2)

3.71% less ownership

Funds ownership: 15.9% → 12.19% (-3.7%)

22% less capital invested

Capital invested by funds: $25.7M → $20M (-$5.75M)

Holders
47
Holders Change
+2
Holders Change %
+4.44%
% of All Funds
1.03%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
16
Reduced
11
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
+$1.13M
2
RJA
Raymond James & Associates
Florida
+$512K
3
Bank of America
Bank of America
North Carolina
+$425K
4
Morgan Stanley
Morgan Stanley
New York
+$313K
5
RJFSA
Raymond James Financial Services Advisors
Florida
+$244K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$4.63M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$1.91M
3
UCFA
United Capital Financial Advisors
Texas
-$1.45M
4
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$356K
5
TJHA
Thomas J. Herzfeld Advisors
Florida
-$304K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
26
LPL Financial
California
$101K +$167 +22 +0.2%
CCFM
27
Clear Creek Financial Management
Washington
$86K – – –
SPIA
28
Steward Partners Investment Advisory
New York
$85K +$65.7K +8,654 +327%
CA
29
Calton & Associates
Florida
$82K – – –
Royal Bank of Canada
30
Royal Bank of Canada
Ontario, Canada
$80K -$22.8K -3,000 -22%
LCM
31
Landscape Capital Management
New Jersey
$76K -$35K -4,612 -31%
QCIG
32
Quad-Cities Investment Group
Iowa
$56K +$114 +15 +0.2%
WCG
33
Weaver Consulting Group
California
$53K – – –
US Bancorp
34
US Bancorp
Minnesota
$52K – – –
LTFS
35
Ladenburg Thalmann Financial Services
Florida
$50K +$15.1K +1,990 +44%
HPC
36
HM Payson & Co
Maine
$48K +$47.8K +6,300 New
AIM
37
Advantage Investment Management
Iowa
$46K – – –
RCAG
38
Rehmann Capital Advisory Group
Michigan
$45.5K – – –
FHA
39
Flagship Harbor Advisors
Massachusetts
$26K – – –
ClearBridge Investments
40
ClearBridge Investments
New York
$17K – – –
AF
41
Advisornet Financial
Minnesota
$17K +$5.31K +700 +47%
PNC Financial Services Group
42
PNC Financial Services Group
Pennsylvania
$13K -$356K -46,864 -96%
Fifth Third Bancorp
43
Fifth Third Bancorp
Ohio
$13K – – –
TCM
44
Tradewinds Capital Management
Washington
$7K – – –
WAM
45
Wolverine Asset Management
Illinois
$3K +$3.04K +400 New
FIA
46
FNY Investment Advisers
New York
$1K +$76 +10 +6%
Envestnet Asset Management
47
Envestnet Asset Management
Illinois
– -$1.91M -252,140 Closed
BCI
48
Brinker Capital Investments
Pennsylvania
– -$83K -10,949 Closed
ME
49
McIlrath & Eck
Washington
– +$30 +4 New
1
2

MHF Hedge Fund Activity: Q3 2019 in Review

47 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Western Asset Municipal High Income Fund (MHF) for Q3 2019, worth a combined $20M — down 22% from $25.7M a quarter earlier.

Buyers outnumbered sellers: 4 funds opened new MHF positions and 2 closed out — a net gain of 2 holders — while 16 added to existing stakes and 11 trimmed.

The largest buyer was Robinson Capital Management, opening a new position worth an estimated $1.13M. The largest seller was Karpus Investment Management, cutting an estimated $4.63M.

  • 47 institutional investors held Western Asset Municipal High Income Fund (MHF) as of Q3 2019, up from 45 in Q2 2019.
  • Funds reported $20M of Western Asset Municipal High Income Fund stock for Q3 2019, down 22% quarter-over-quarter.
  • 4 funds opened new Western Asset Municipal High Income Fund positions in Q3 2019 and 2 closed out, a net change of +2 holders.
  • The largest Western Asset Municipal High Income Fund buyer in Q3 2019 was Robinson Capital Management, an estimated $1.13M added.
  • The largest Western Asset Municipal High Income Fund seller in Q3 2019 was Karpus Investment Management, an estimated $4.63M sold.

Based on aggregated 13F filings for Q3 2019.