Saba Capital Management, L.P. Acquires 4,765 Shares of Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. bought 4,765 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $8.64 per share, with a total value of $41,169.60. Following the purchase, the insider now owns 3,438,580 shares of the company’s stock, valued at $29,709,331.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, March 11th, Saba Capital Management, L.P. acquired 30,534 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average cost of $8.93 per share, with a total value of $272,668.62.
• On Friday, March 1st, Saba Capital Management, L.P. bought 5,666 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average cost of $8.76 per share, for a total transaction of $49,634.16.

Pioneer Municipal High Income Fund Trading Up 1.1 %

Shares of MHI opened at $8.80 on Wednesday. The firm has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $8.42. Pioneer Municipal High Income Fund, Inc. has a 1-year low of $6.93 and a 1-year high of $8.95.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.77%.

Institutional Trading of Pioneer Municipal High Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of Pioneer Municipal High Income Fund by 2.9% in the 3rd quarter. Raymond James & Associates now owns 67,909 shares of the investment management company’s stock valued at $491,000 after buying an additional 1,930 shares during the period. Bank of New York Mellon Corp increased its stake in Pioneer Municipal High Income Fund by 125.1% during the third quarter. Bank of New York Mellon Corp now owns 50,264 shares of the investment management company’s stock worth $363,000 after purchasing an additional 27,931 shares during the period. Advisor Partners II LLC acquired a new stake in shares of Pioneer Municipal High Income Fund during the third quarter worth about $2,251,000. Park Avenue Securities LLC lifted its position in shares of Pioneer Municipal High Income Fund by 7.0% during the third quarter. Park Avenue Securities LLC now owns 112,956 shares of the investment management company’s stock worth $817,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Ironsides Asset Advisors LLC boosted its stake in shares of Pioneer Municipal High Income Fund by 20.2% in the third quarter. Ironsides Asset Advisors LLC now owns 12,525 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 2,108 shares during the period.

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.