Miller/Howard High Income Equity Fund (NYSE:HIE) Short Interest Down 6.3% in April

Miller/Howard High Income Equity Fund (NYSE:HIE) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 14,900 shares, a decline of 6.3% from the March 31st total of 15,900 shares. Based on an average daily volume of 39,000 shares, the days-to-cover ratio is currently 0.4 days.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 4,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $10.33, for a total transaction of $42,105.08. Following the completion of the sale, the insider now directly owns 1,990,471 shares in the company, valued at $20,561,565.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HIE. 1607 Capital Partners LLC boosted its stake in Miller/Howard High Income Equity Fund by 6.0% in the 4th quarter. 1607 Capital Partners LLC now owns 867,167 shares of the company’s stock worth $9,201,000 after purchasing an additional 48,875 shares during the period. Balboa Wealth Partners grew its holdings in shares of Miller/Howard High Income Equity Fund by 15.7% during the fourth quarter. Balboa Wealth Partners now owns 110,058 shares of the company’s stock valued at $1,168,000 after buying an additional 14,942 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Miller/Howard High Income Equity Fund by 1.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 73,786 shares of the company’s stock valued at $783,000 after buying an additional 1,379 shares during the period. Almitas Capital LLC lifted its stake in Miller/Howard High Income Equity Fund by 4.6% in the 3rd quarter. Almitas Capital LLC now owns 1,061,308 shares of the company’s stock worth $10,528,000 after acquiring an additional 46,679 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. boosted its position in Miller/Howard High Income Equity Fund by 6.0% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 885,247 shares of the company’s stock worth $8,782,000 after acquiring an additional 49,896 shares during the period.

Miller/Howard High Income Equity Fund Stock Performance

NYSE:HIE opened at $10.94 on Thursday. Miller/Howard High Income Equity Fund has a 1-year low of $9.49 and a 1-year high of $11.14. The stock has a fifty day simple moving average of $10.86 and a 200 day simple moving average of $10.49.

Miller/Howard High Income Equity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date is Friday, June 21st.

Miller/Howard High Income Equity Fund Company Profile

Miller/Howard High Income Equity Fund is a closed ended equity mutual fund launched and managed by Miller Howard Investments, Inc It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in growth and high dividend paying stocks of companies.