Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Acquires $41,169.60 in Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. acquired 4,765 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $8.64 per share, with a total value of $41,169.60. Following the completion of the transaction, the insider now owns 3,438,580 shares of the company’s stock, valued at $29,709,331.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

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

Pioneer Municipal High Income Fund Stock Up 0.2 %

Shares of MHI stock opened at $8.88 on Friday. The firm’s 50 day moving average price is $8.72 and its two-hundred day moving average price is $8.42. Pioneer Municipal High Income Fund, Inc. has a 52-week low of $6.93 and a 52-week high of $8.95.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.035 dividend. This represents a $0.42 annualized dividend and a yield of 4.73%. The ex-dividend date is Thursday, May 16th.

Hedge Funds Weigh In On Pioneer Municipal High Income Fund

Several institutional investors have recently modified their holdings of the stock. AQR Arbitrage LLC grew its holdings in Pioneer Municipal High Income Fund by 86.3% during the third quarter. AQR Arbitrage LLC now owns 327,254 shares of the investment management company’s stock valued at $2,366,000 after purchasing an additional 151,617 shares during the period. Raymond James & Associates increased its position 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 in the last quarter. Advisor Resource Council acquired a new stake in Pioneer Municipal High Income Fund during the 4th quarter worth $292,000. Atlas Wealth LLC bought a new position in Pioneer Municipal High Income Fund during the third quarter worth about $105,000. Finally, Fort Point Capital Partners LLC acquired a new position in Pioneer Municipal High Income Fund in the third quarter valued at about $79,000.

About Pioneer Municipal High Income Fund

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.