Saba Capital Management, L.P. Purchases 5,666 Shares of Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHIGet Free Report) major shareholder Saba Capital Management, L.P. bought 5,666 shares of the company’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $8.76 per share, with a total value of $49,634.16. Following the transaction, the insider now directly owns 3,370,310 shares in the company, valued at approximately $29,523,915.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% 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 Tuesday, January 30th, Saba Capital Management, L.P. acquired 17,517 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $8.49 per share, with a total value of $148,719.33.
  • On Wednesday, January 17th, Saba Capital Management, L.P. acquired 56,706 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $8.58 per share, with a total value of $486,537.48.
  • On Tuesday, January 2nd, Saba Capital Management, L.P. bought 7,630 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $8.62 per share, with a total value of $65,770.60.
  • On Thursday, December 14th, Saba Capital Management, L.P. bought 10,925 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $8.40 per share, with a total value of $91,770.00.
  • On Thursday, December 14th, Saba Capital Management, L.P. purchased 10,925 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average cost of $8.40 per share, for a total transaction of $91,770.00.
  • On Tuesday, December 12th, Saba Capital Management, L.P. purchased 150,000 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average cost of $8.26 per share, for a total transaction of $1,239,000.00.
  • On Wednesday, December 6th, Saba Capital Management, L.P. purchased 25,016 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average cost of $8.26 per share, for a total transaction of $206,632.16.

Pioneer Municipal High Income Fund Stock Down 0.8 %

Shares of MHI traded down $0.07 during mid-day trading on Monday, hitting $8.71. 42,561 shares of the company’s stock were exchanged, compared to its average volume of 111,132. Pioneer Municipal High Income Fund, Inc. has a 52 week low of $6.93 and a 52 week high of $9.05. The stock’s 50-day simple moving average is $8.64 and its 200-day simple moving average is $8.06.

Pioneer Municipal High Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 16th were issued a dividend of $0.027 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.32 annualized dividend and a dividend yield of 3.72%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. boosted its position in Pioneer Municipal High Income Fund by 373.5% in the third quarter. Saba Capital Management L.P. now owns 2,366,369 shares of the investment management company’s stock valued at $17,109,000 after buying an additional 1,866,605 shares in the last quarter. Morgan Stanley lifted its holdings in Pioneer Municipal High Income Fund by 25.1% in the fourth quarter. Morgan Stanley now owns 1,660,133 shares of the investment management company’s stock valued at $14,244,000 after buying an additional 333,285 shares during the period. Pathstone Holdings LLC acquired a new position in Pioneer Municipal High Income Fund in the fourth quarter valued at $10,110,000. Robinson Capital Management LLC increased its stake in Pioneer Municipal High Income Fund by 27.5% in the first quarter. Robinson Capital Management LLC now owns 426,367 shares of the investment management company’s stock valued at $4,494,000 after purchasing an additional 91,957 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Pioneer Municipal High Income Fund by 1.9% in the second quarter. Wells Fargo & Company MN now owns 392,606 shares of the investment management company’s stock valued at $3,349,000 after purchasing an additional 7,242 shares in the last quarter.

Pioneer Municipal High Income Fund Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Pioneer Municipal High Income Fund (NYSE:MHI)

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