Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Saba Capital Management, L.P. Buys 3,538 Shares

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. purchased 3,538 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $8.88 per share, with a total value of $31,417.44. Following the purchase, the insider now directly owns 3,453,223 shares of the company’s stock, valued at $30,664,620.24. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, May 15th, Saba Capital Management, L.P. purchased 11,105 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average cost of $8.91 per share, with a total value of $98,945.55.
• On Friday, May 3rd, Saba Capital Management, L.P. acquired 4,765 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average cost of $8.64 per share, with a total value of $41,169.60.
• On Monday, March 11th, Saba Capital Management, L.P. acquired 30,534 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average cost 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 purchased at an average cost of $8.76 per share, with a total value of $49,634.16.

Pioneer Municipal High Income Fund Stock Performance

Pioneer Municipal High Income Fund stock traded down $0.04 on Thursday, hitting $8.87. 52,425 shares of the stock traded hands, compared to its average volume of 77,243. The business’s fifty day simple moving average is $8.73 and its 200 day simple moving average is $8.55. Pioneer Municipal High Income Fund, Inc. has a 1 year low of $6.93 and a 1 year high of $9.02.

Pioneer Municipal High Income Fund Announces Dividend

The company 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 dividend of $0.035 per share. This represents a $0.42 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 16th.

Hedge Funds Weigh In On Pioneer Municipal High Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in MHI. AQR Arbitrage LLC increased its holdings in shares of 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 acquiring an additional 151,617 shares in the last quarter. Raymond James & Associates increased its holdings in 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 buying an additional 1,930 shares in the last quarter. Tyche Wealth Partners LLC bought a new stake in Pioneer Municipal High Income Fund in the 4th quarter worth about $520,000. Advisor Resource Council bought a new stake in Pioneer Municipal High Income Fund in the 4th quarter worth about $292,000. Finally, Fort Point Capital Partners LLC bought a new stake in Pioneer Municipal High Income Fund in the 3rd quarter worth 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.