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MHF

Western Asset Municipal High Income Fund
MHF

44 hedge funds and large institutions have $17.9M invested in Western Asset Municipal High Income Fund in 2019 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 13 increasing their positions, 10 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more repeat investments, than reductions

Existing positions increased: 13 | Existing positions reduced: 10

1.06% less ownership

Funds ownership: 12.19% → 11.13% (-1.1%)

6% less funds holding

Funds holding: 47 → 44 (-3)

10% less capital invested

Capital invested by funds: $20M → $17.9M (-$2.07M)

14% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 7

Holders
44
Holders Change
-3
Holders Change %
-6.38%
% of All Funds
0.87%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
13
Reduced
10
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$556K
2
RJA
Raymond James & Associates
Florida
+$373K
3
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$368K
4
ACA
Ackerman Capital Advisors
Texas
+$157K
5
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
+$145K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$1.44M
2
RCM
Robinson Capital Management
Michigan
-$1.13M
3
VCM
Vivaldi Capital Management
Illinois
-$475K
4
AG
Advisor Group
Arizona
-$294K
5
1CP
1607 Capital Partners
Virginia
-$167K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
26
LPL Financial
California
$101K +$228 +30 +0.2%
CCFM
27
Clear Creek Financial Management
Washington
$87K – – –
CA
28
Calton & Associates
Florida
$82K – – –
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$82K +$2.17K +286 +3%
WCG
30
Weaver Consulting Group
California
$53K – – –
HPC
31
HM Payson & Co
Maine
$48K – – –
LTFS
32
Ladenburg Thalmann Financial Services
Florida
$35K -$14.9K -1,954 -30%
WAM
33
Wolverine Asset Management
Illinois
$28K +$25.7K +3,381 +845%
AG
34
Advisor Group
Arizona
$26K -$294K -38,700 -92%
AF
35
Advisornet Financial
Minnesota
$17K – – –
ClearBridge Investments
36
ClearBridge Investments
New York
$17K – – –
EI
37
Ellevest Inc
New York
$15K +$15.2K +2,000 New
VCP
38
Verus Capital Partners
Arizona
$15K +$15.2K +2,000 New
Fifth Third Bancorp
39
Fifth Third Bancorp
Ohio
$13K – – –
CHAM
40
Clear Harbor Asset Management
Connecticut
$7.58K +$7.6K +1,000 New
TCM
41
Tradewinds Capital Management
Washington
$7K – – –
US Bancorp
42
US Bancorp
Minnesota
$5K -$46.4K -6,099 -90%
NDSI
43
Newman Dignan & Sheerar Inc
Rhode Island
$327 +$3.28K +432 +1%
RCM
44
Robinson Capital Management
Michigan
– -$1.13M -148,421 Closed
VCM
45
Vivaldi Capital Management
Illinois
– -$475K -62,714 Closed
LCM
46
Landscape Capital Management
New Jersey
– -$76K -10,032 Closed
QCIG
47
Quad-Cities Investment Group
Iowa
– -$56K -7,412 Closed
FHA
48
Flagship Harbor Advisors
Massachusetts
– -$26K -3,500 Closed
PNC Financial Services Group
49
PNC Financial Services Group
Pennsylvania
– -$13K -1,753 Closed
FIA
50
FNY Investment Advisers
New York
– -$1K -172 Closed
1
2

MHF Hedge Fund Activity: Q4 2019 in Review

44 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Western Asset Municipal High Income Fund (MHF) for Q4 2019, worth a combined $17.9M — down 10% from $20M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of MHF and 6 opened new positions — a net loss of 1 holder — while 10 trimmed existing stakes and 13 added.

The largest buyer was Morgan Stanley, adding an estimated $556K. The largest seller was Karpus Investment Management, cutting an estimated $1.44M.

  • 44 institutional investors held Western Asset Municipal High Income Fund (MHF) as of Q4 2019, down from 47 in Q3 2019.
  • Funds reported $17.9M of Western Asset Municipal High Income Fund stock for Q4 2019, down 10% quarter-over-quarter.
  • 6 funds opened new Western Asset Municipal High Income Fund positions in Q4 2019 and 7 closed out, a net change of -1 holder.
  • The largest Western Asset Municipal High Income Fund buyer in Q4 2019 was Morgan Stanley, an estimated $556K added.
  • The largest Western Asset Municipal High Income Fund seller in Q4 2019 was Karpus Investment Management, an estimated $1.44M sold.

Based on aggregated 13F filings for Q4 2019.