Miller/Howard High Income Equity Fund (NYSE:HIE) to Issue Monthly Dividend of $0.05

Miller/Howard High Income Equity Fund (NYSE:HIE) declared a monthly dividend on Monday, April 1st, Zacks reports. Investors of record on Tuesday, April 23rd will be paid a dividend of 0.051 per share on Tuesday, April 30th. This represents a $0.61 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend is Monday, April 22nd.

Miller/Howard High Income Equity Fund has decreased its dividend payment by an average of 4.7% annually over the last three years.

Miller/Howard High Income Equity Fund Stock Up 1.2 %

Shares of NYSE:HIE opened at $10.70 on Friday. The business has a fifty day simple moving average of $10.79 and a 200 day simple moving average of $10.42. Miller/Howard High Income Equity Fund has a 12-month low of $9.49 and a 12-month high of $11.14.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 15,688 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $10.45, for a total value of $163,939.60. Following the completion of the sale, the insider now directly owns 1,994,547 shares in the company, valued at approximately $20,843,016.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 44,509 shares of company stock worth $467,383.

Institutional Trading of Miller/Howard High Income Equity Fund

Several large investors have recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of Miller/Howard High Income Equity Fund by 1.0% in the 4th quarter. Morgan Stanley now owns 1,111,076 shares of the company’s stock valued at $11,611,000 after buying an additional 11,522 shares during the period. City of London Investment Management Co. Ltd. lifted its position in shares of Miller/Howard High Income Equity Fund by 45.5% during the 1st quarter. City of London Investment Management Co. Ltd. now owns 864,964 shares of the company’s stock worth $9,649,000 after buying an additional 270,456 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Miller/Howard High Income Equity Fund by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 742,212 shares of the company’s stock worth $7,349,000 after buying an additional 24,368 shares in the last quarter. Mariner LLC bought a new position in shares of Miller/Howard High Income Equity Fund during the 4th quarter worth approximately $2,403,000. Finally, Bank of America Corp DE lifted its position in shares of Miller/Howard High Income Equity Fund by 3.5% during the 1st quarter. Bank of America Corp DE now owns 203,933 shares of the company’s stock worth $2,276,000 after buying an additional 6,832 shares in the last quarter.

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.