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

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. bought 4,765 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $8.64 per share, with a total value of $41,169.60. Following the completion of the purchase, 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 legal filing with the SEC, which is available at this link. 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 stock was bought at an average cost of $8.93 per share, for a total transaction 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 stock was purchased at an average price of $8.76 per share, for a total transaction of $49,634.16.

Pioneer Municipal High Income Fund Stock Up 1.1 %

MHI traded up $0.10 during trading hours on Tuesday, hitting $8.80. The company’s stock had a trading volume of 54,157 shares, compared to its average volume of 81,351. Pioneer Municipal High Income Fund, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $8.95. The company has a 50-day simple moving average of $8.71 and a 200 day simple moving average of $8.40.

Pioneer Municipal High Income Fund Announces Dividend

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

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

Several institutional investors have recently bought and sold shares of the stock. Raymond James & Associates lifted its stake 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 worth $491,000 after acquiring an additional 1,930 shares during the period. Bank of New York Mellon Corp lifted its position in Pioneer Municipal High Income Fund by 125.1% in 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 bought a new position in Pioneer Municipal High Income Fund during the 3rd quarter valued at $2,251,000. Park Avenue Securities LLC increased its position in shares of Pioneer Municipal High Income Fund by 7.0% during the 3rd quarter. Park Avenue Securities LLC now owns 112,956 shares of the investment management company’s stock valued at $817,000 after purchasing an additional 7,434 shares during the period. Finally, Ironsides Asset Advisors LLC raised its stake in shares of Pioneer Municipal High Income Fund by 20.2% in 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 in the last quarter.

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.