Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Saba Capital Management, L.P. Acquires 12,089 Shares

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. acquired 12,089 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $9.13 per share, for a total transaction of $110,372.57. Following the transaction, the insider now owns 3,511,022 shares of the company’s stock, valued at $32,055,630.86. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Thursday, July 11th, Saba Capital Management, L.P. acquired 45,710 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average cost of $9.20 per share, for a total transaction of $420,532.00.
• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 3,538 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average cost of $8.88 per share, for a total transaction of $31,417.44.
• On Wednesday, May 15th, Saba Capital Management, L.P. acquired 11,105 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average cost of $8.91 per share, for a total transaction of $98,945.55.
• On Friday, May 3rd, Saba Capital Management, L.P. purchased 4,765 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average cost of $8.64 per share, for a total transaction of $41,169.60.

Pioneer Municipal High Income Fund Stock Performance

NYSE MHI traded up $0.04 on Monday, hitting $9.17. 28,444 shares of the stock were exchanged, compared to its average volume of 66,399. The business’s fifty day moving average is $9.06 and its 200 day moving average is $8.82. Pioneer Municipal High Income Fund, Inc. has a 52 week low of $6.93 and a 52 week high of $9.25.

Pioneer Municipal High Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th will be given a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, July 19th.

Institutional Trading of Pioneer Municipal High Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Capital Management Inc. increased its holdings in shares of Pioneer Municipal High Income Fund by 7.1% in the second quarter. Integrated Capital Management Inc. now owns 20,585 shares of the investment management company’s stock valued at $188,000 after purchasing an additional 1,370 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Pioneer Municipal High Income Fund by 1.5% in the first quarter. Park Avenue Securities LLC now owns 118,022 shares of the investment management company’s stock valued at $1,043,000 after purchasing an additional 1,778 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Pioneer Municipal High Income Fund by 3.0% in the fourth quarter. Raymond James & Associates now owns 69,976 shares of the investment management company’s stock valued at $604,000 after purchasing an additional 2,067 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Pioneer Municipal High Income Fund during the fourth quarter worth approximately $104,000. Finally, Flow State Investments L.P. acquired a new stake in Pioneer Municipal High Income Fund during the fourth quarter worth approximately $181,000.

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.