Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Buys $31,417.44 in Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. purchased 3,538 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $8.88 per share, for a total transaction 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 transaction 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 transactions with the SEC.

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

• On Wednesday, May 15th, Saba Capital Management, L.P. acquired 11,105 shares of Pioneer Municipal High Income Fund stock. The shares were purchased 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. purchased 4,765 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average price of $8.64 per share, with a total value of $41,169.60.
• On Monday, March 11th, Saba Capital Management, L.P. bought 30,534 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average price of $8.93 per share, for a total transaction 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 acquired at an average price of $8.76 per share, for a total transaction of $49,634.16.

Pioneer Municipal High Income Fund Price Performance

NYSE MHI traded up $0.04 during trading hours on Friday, reaching $8.91. 11,999 shares of the company’s stock were exchanged, compared to its average volume of 76,521. Pioneer Municipal High Income Fund, Inc. has a one year low of $6.93 and a one year high of $9.02. The company’s 50-day moving average is $8.73 and its two-hundred day moving average is $8.55.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued 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 dividend yield of 4.71%.

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

Several institutional investors have recently added to or reduced their stakes in MHI. Saba Capital Management L.P. raised its stake in shares of Pioneer Municipal High Income Fund by 373.5% in the 3rd quarter. Saba Capital Management L.P. now owns 2,366,369 shares of the investment management company’s stock valued at $17,109,000 after purchasing an additional 1,866,605 shares during the period. Whitebox Advisors LLC bought a new stake in Pioneer Municipal High Income Fund in the 1st quarter valued at approximately $1,962,000. AQR Arbitrage LLC boosted its position in Pioneer Municipal High Income Fund by 86.3% during the 3rd quarter. AQR Arbitrage LLC now owns 327,254 shares of the investment management company’s stock worth $2,366,000 after acquiring an additional 151,617 shares during the last quarter. Gridiron Partners LLC bought a new position in shares of Pioneer Municipal High Income Fund during the 4th quarter worth approximately $872,000. Finally, Tyche Wealth Partners LLC acquired a new stake in shares of Pioneer Municipal High Income Fund in the fourth quarter valued at approximately $520,000.

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.