Pioneer Municipal High Income Fund (NYSE:MHI) Stock Crosses Above 50 Day Moving Average of $8.82

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.82 and traded as high as $9.04. Pioneer Municipal High Income Fund shares last traded at $8.98, with a volume of 120,177 shares traded.

Pioneer Municipal High Income Fund Price Performance

The company has a 50 day moving average price of $8.82 and a 200 day moving average price of $8.70.

Pioneer Municipal High Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.035 per share. This represents a $0.42 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Tuesday, June 18th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 3,538 shares of Pioneer Municipal High Income Fund stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $8.88 per share, with a total value of $31,417.44. Following the purchase, the insider now owns 3,453,223 shares in the company, valued at $30,664,620.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 19,408 shares of company stock worth $171,533 over the last ninety days.

Hedge Funds Weigh In On Pioneer Municipal High Income Fund

Large investors have recently bought and sold shares of the company. Saba Capital Management L.P. lifted its position in shares of Pioneer Municipal High Income Fund by 373.5% in the third quarter. Saba Capital Management L.P. now owns 2,366,369 shares of the investment management company’s stock worth $17,109,000 after purchasing an additional 1,866,605 shares in the last quarter. AQR Arbitrage LLC boosted its stake in shares of 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 buying an additional 151,617 shares during the last quarter. Whitebox Advisors LLC bought a new position in shares of Pioneer Municipal High Income Fund in the 1st quarter valued at about $1,962,000. Van ECK Associates Corp increased its position in shares of Pioneer Municipal High Income Fund by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 175,272 shares of the investment management company’s stock valued at $1,513,000 after acquiring an additional 21,564 shares during the last quarter. Finally, 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 acquiring an additional 1,778 shares in the last quarter.

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.