Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Sees Large Drop in Short Interest

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 57,600 shares, a drop of 20.1% from the January 15th total of 72,100 shares. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MHI. Rivernorth Capital Management LLC lifted its position in shares of Pioneer Municipal High Income Fund by 155.3% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,395,686 shares of the investment management company’s stock valued at $13,399,000 after buying an additional 849,106 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Pioneer Municipal High Income Fund by 78.6% during the 4th quarter. Wells Fargo & Company MN now owns 588,862 shares of the investment management company’s stock valued at $5,453,000 after buying an additional 259,197 shares in the last quarter. Sit Investment Associates Inc. lifted its position in shares of Pioneer Municipal High Income Fund by 12.5% during the 4th quarter. Sit Investment Associates Inc. now owns 2,298,892 shares of the investment management company’s stock valued at $21,288,000 after buying an additional 256,036 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Pioneer Municipal High Income Fund during the 4th quarter valued at approximately $736,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Pioneer Municipal High Income Fund during the 4th quarter valued at approximately $489,000.

Pioneer Municipal High Income Fund Price Performance

Shares of NYSE MHI traded up $0.06 during midday trading on Friday, reaching $9.44. 41,516 shares of the stock were exchanged, compared to its average volume of 33,864. Pioneer Municipal High Income Fund has a twelve month low of $8.45 and a twelve month high of $9.74. The firm has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $9.45.

Pioneer Municipal High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.035 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.45%.

Pioneer Municipal High Income Fund Company Profile

Pioneer Municipal High Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal securities. It seeks to invest in securities across the credit rating and maturity spectrum.