Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Acquires $110,372.57 in Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. bought 12,089 shares of Pioneer Municipal High Income Fund stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $9.13 per share, for a total transaction of $110,372.57. Following the purchase, the insider now owns 3,511,022 shares of the company’s stock, valued at approximately $32,055,630.86. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 Thursday, July 11th, Saba Capital Management, L.P. bought 45,710 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average cost of $9.20 per share, for a total transaction of $420,532.00.
• On Thursday, May 23rd, Saba Capital Management, L.P. bought 3,538 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average cost of $8.88 per share, for a total transaction of $31,417.44.
• On Wednesday, May 15th, Saba Capital Management, L.P. bought 11,105 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average cost of $8.91 per share, for a total transaction of $98,945.55.
• On Friday, May 3rd, Saba Capital Management, L.P. acquired 4,765 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average price of $8.64 per share, with a total value of $41,169.60.

Pioneer Municipal High Income Fund Price Performance

MHI stock traded up $0.04 during mid-day trading on Monday, reaching $9.17. The company had a trading volume of 28,444 shares, compared to its average volume of 66,399. The firm has a 50 day moving average of $9.06 and a 200 day moving average of $8.82. Pioneer Municipal High Income Fund, Inc. has a 12 month low of $6.93 and a 12 month high of $9.25.

Pioneer Municipal High Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 19th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.42 annualized dividend and a yield of 4.58%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MHI. Whitebox Advisors LLC purchased a new stake in shares of Pioneer Municipal High Income Fund in the 1st quarter worth $1,962,000. Gridiron Partners LLC purchased a new stake in Pioneer Municipal High Income Fund during the 4th quarter worth approximately $872,000. Tyche Wealth Partners LLC purchased a new stake in Pioneer Municipal High Income Fund during the 4th quarter worth approximately $520,000. Steward Partners Investment Advisory LLC lifted its stake in Pioneer Municipal High Income Fund by 167.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 49,760 shares of the investment management company’s stock valued at $429,000 after acquiring an additional 31,163 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted 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 acquiring an additional 26,004 shares during the period.

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.