Insider Buying: Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Buys $232,081.73 in Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. purchased 24,611 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $9.43 per share, for a total transaction of $232,081.73. Following the acquisition, the insider now owns 3,604,754 shares of the company’s stock, valued at $33,992,830.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% 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, August 19th, Saba Capital Management, L.P. bought 100 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average price of $9.43 per share, for a total transaction of $943.00.
• On Monday, August 12th, Saba Capital Management, L.P. purchased 1,100 shares of Pioneer Municipal High Income Fund stock. The shares were acquired at an average price of $9.41 per share, with a total value 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 shares were acquired at an average cost 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 stock was 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 shares were acquired at an average price 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 stock was bought at an average price of $9.20 per share, for a total transaction of $420,532.00.
• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 3,538 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $8.88 per share, with a total value of $31,417.44.

Pioneer Municipal High Income Fund Price Performance

NYSE:MHI opened at $9.44 on Thursday. Pioneer Municipal High Income Fund, Inc. has a 1-year low of $6.93 and a 1-year high of $9.57. The business’s 50-day moving average price is $9.20 and its two-hundred day moving average price is $8.93.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whitebox Advisors LLC increased its stake in Pioneer Municipal High Income Fund by 48.3% in the second quarter. Whitebox Advisors LLC now owns 329,238 shares of the investment management company’s stock valued at $3,009,000 after purchasing an additional 107,248 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of Pioneer Municipal High Income Fund by 6.4% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 29,804 shares of the investment management company’s stock valued at $272,000 after buying an additional 1,800 shares during the period. Rothschild Investment LLC bought a new stake in shares of Pioneer Municipal High Income Fund in the 2nd quarter valued at $46,000. Integrated Capital Management Inc. raised its stake in Pioneer Municipal High Income Fund by 7.1% during the 2nd quarter. Integrated Capital Management Inc. now owns 20,585 shares of the investment management company’s stock worth $188,000 after buying an additional 1,370 shares during the period. Finally, Park Avenue Securities LLC raised its stake in Pioneer Municipal High Income Fund by 1.5% during the 1st quarter. Park Avenue Securities LLC now owns 118,022 shares of the investment management company’s stock worth $1,043,000 after buying an additional 1,778 shares during the period.

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.