Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) to Issue $0.04 Monthly Dividend

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) declared a monthly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.035 per share by the investment management company on Friday, August 30th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Tuesday, August 20th.

Pioneer Municipal High Income Fund Trading Up 1.1 %

Shares of NYSE:MHI traded up $0.10 during midday trading on Wednesday, hitting $9.42. 232,511 shares of the company’s stock were exchanged, compared to its average volume of 66,784. Pioneer Municipal High Income Fund has a 12 month low of $6.93 and a 12 month high of $9.57. The stock has a 50 day moving average price of $9.10 and a 200-day moving average price of $8.86.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. purchased 3,538 shares of the 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 transaction, the insider now owns 3,453,223 shares of the company’s stock, valued at approximately $30,664,620.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders purchased 73,235 shares of company stock valued at $668,674.

Pioneer Municipal High Income Fund Company Profile

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.