Saba Capital Management, L.P. Buys 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. acquired 4,765 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $8.64 per share, for a total transaction of $41,169.60. Following the purchase, the insider now directly owns 3,438,580 shares of the company’s stock, valued at $29,709,331.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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. bought 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. acquired 5,666 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average price of $8.76 per share, with a total value of $49,634.16.

Pioneer Municipal High Income Fund Price Performance

Shares of MHI stock opened at $8.86 on Thursday. Pioneer Municipal High Income Fund, Inc. has a 52-week low of $6.93 and a 52-week high of $8.95. The business has a 50-day simple moving average of $8.71 and a 200-day simple moving average of $8.42.

Pioneer Municipal High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.035 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.42 annualized dividend and a yield of 4.74%.

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of Pioneer Municipal High Income Fund by 2.9% during the 3rd quarter. Raymond James & Associates now owns 67,909 shares of the investment management company’s stock valued at $491,000 after acquiring an additional 1,930 shares during the period. Bank of New York Mellon Corp boosted its position 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 in the last quarter. Advisor Partners II LLC acquired a new stake in Pioneer Municipal High Income Fund in the third quarter valued at approximately $2,251,000. Park Avenue Securities LLC increased its position in shares of Pioneer Municipal High Income Fund by 7.0% in the third quarter. Park Avenue Securities LLC now owns 112,956 shares of the investment management company’s stock valued at $817,000 after buying an additional 7,434 shares in the last quarter. Finally, Ironsides Asset Advisors LLC raised its stake in shares of Pioneer Municipal High Income Fund by 20.2% during the 3rd quarter. Ironsides Asset Advisors LLC now owns 12,525 shares of the investment management company’s stock worth $91,000 after buying an additional 2,108 shares during the period.

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.