Insider Buying: Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Acquires $41,114.80 in Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. bought 4,360 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $9.43 per share, for a total transaction of $41,114.80. Following the completion of the transaction, the insider now directly owns 3,610,614 shares in the company, valued at $34,048,090.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, August 28th, Saba Capital Management, L.P. acquired 2,500 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average price of $9.40 per share, with a total value of $23,500.00.
• On Wednesday, August 21st, Saba Capital Management, L.P. bought 1,400 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average cost of $9.42 per share, with a total value of $13,188.00.
• On Monday, August 19th, Saba Capital Management, L.P. purchased 100 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average price of $9.43 per share, for a total transaction of $943.00.
• On Thursday, August 15th, Saba Capital Management, L.P. acquired 24,611 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $9.43 per share, with a total value of $232,081.73.
• On Monday, August 12th, Saba Capital Management, L.P. bought 1,100 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average price of $9.41 per share, for a total transaction of $10,351.00.
• On Wednesday, August 7th, Saba Capital Management, L.P. purchased 53,126 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average price of $9.41 per share, with a total value of $499,915.66.
• On Friday, August 2nd, Saba Capital Management, L.P. acquired 793 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average cost of $9.34 per share, for a total transaction of $7,406.62.
• On Friday, July 26th, Saba Capital Management, L.P. bought 12,089 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average cost of $9.13 per share, with a total value of $110,372.57.
• On Thursday, July 11th, Saba Capital Management, L.P. purchased 45,710 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $9.20 per share, for a total transaction of $420,532.00.

Pioneer Municipal High Income Fund Stock Performance

Shares of MHI stock opened at $9.46 on Friday. Pioneer Municipal High Income Fund, Inc. has a 52-week low of $6.93 and a 52-week high of $9.57. The stock’s 50-day moving average price is $9.24 and its 200 day moving average price is $8.95.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be issued a $0.035 dividend. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Tuesday, August 20th.

Hedge Funds Weigh In On Pioneer Municipal High Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Pioneer Municipal High Income Fund by 14.0% in the 4th quarter. Van ECK Associates Corp now owns 175,272 shares of the investment management company’s stock valued at $1,513,000 after buying an additional 21,564 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Pioneer Municipal High Income Fund by 167.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 49,760 shares of the investment management company’s stock worth $429,000 after acquiring an additional 31,163 shares during the period. Gridiron Partners LLC acquired a new position in shares of Pioneer Municipal High Income Fund during the fourth quarter worth about $872,000. Flow State Investments L.P. purchased a new position in Pioneer Municipal High Income Fund during the fourth quarter worth about $181,000. Finally, Nomura Holdings Inc. acquired a new stake in Pioneer Municipal High Income Fund in the fourth quarter valued at about $104,000.

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.