Daniel P. Cronin, a director at Western Asset Managed Municipals Fund Inc. (NYSE:MMU), has recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Cronin sold 4,339.952 shares at a price of $10.54 each, totaling approximately $45,743. The $580 million market cap fund currently offers a substantial 6.16% dividend yield, according to InvestingPro data.
Following this transaction, Cronin now holds 4,647.554 shares in the fund. The shares sold were part of those acquired when Western Asset Municipal Partners Fund Inc. merged with Western Asset Managed Municipals Fund Inc. and through the Fund's Dividend Reinvestment Plan. The fund has shown strong performance with a 10.38% year-to-date return.
This transaction is part of routine trading activities by company insiders, which are closely monitored by investors to gauge the sentiment of those closest to the company's operations. InvestingPro data reveals the fund has maintained dividend payments for 33 consecutive years, highlighting its commitment to shareholder returns.
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