Insider Buying: Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Acquires $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 stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $8.64 per share, with a total value of $41,169.60. Following the purchase, the insider now owns 3,438,580 shares of the company’s stock, valued at $29,709,331.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 bought 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. purchased 5,666 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average price of $8.76 per share, with a total value of $49,634.16.

Pioneer Municipal High Income Fund Stock Up 0.2 %

MHI opened at $8.88 on Friday. The business’s 50 day moving average is $8.72 and its 200-day moving average is $8.42. Pioneer Municipal High Income Fund, Inc. has a twelve month low of $6.93 and a twelve month high of $8.95.

Pioneer Municipal High Income Fund Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.42 dividend on an annualized basis and a yield of 4.73%.

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

Several institutional investors have recently bought and sold shares of MHI. Blue Bell Private Wealth Management LLC increased its stake in Pioneer Municipal High Income Fund by 1,300.2% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 28,004 shares of the investment management company’s stock valued at $248,000 after buying an additional 26,004 shares during the period. Park Avenue Securities LLC raised its holdings in Pioneer Municipal High Income Fund by 1.5% during the first quarter. Park Avenue Securities LLC now owns 118,022 shares of the investment management company’s stock worth $1,043,000 after purchasing an additional 1,778 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Pioneer Municipal High Income Fund in the fourth quarter worth approximately $104,000. Flow State Investments L.P. bought a new position in Pioneer Municipal High Income Fund during the 4th quarter valued at $181,000. Finally, Gridiron Partners LLC acquired a new position in shares of Pioneer Municipal High Income Fund during the 4th quarter valued at $872,000.

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.