Insider Buying: Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Acquires $10,351.00 in Stock

Posted by Don Miller on Aug 16th, 2024

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI – Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,100 shares of Pioneer Municipal High Income Fund stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $9.41 per share, with a total value of $10,351.00. Following the acquisition, the insider now directly owns 3,580,143 shares of the company’s stock, valued at $33,689,145.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

On Wednesday, August 7th, Saba Capital Management, L.P. bought 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. bought 793 shares of Pioneer Municipal High Income Fund stock. The stock was acquired at an average price of $9.34 per share, with a total value of $7,406.62.
On Friday, July 26th, Saba Capital Management, L.P. acquired 12,089 shares of Pioneer Municipal High Income Fund stock. The shares were purchased 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. acquired 45,710 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average price of $9.20 per share, with a total value 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 purchased at an average price of $8.88 per share, with a total value of $31,417.44.
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 price of $8.91 per share, with a total value of $98,945.55.

Pioneer Municipal High Income Fund Trading Up 0.1 %

Shares of NYSE:MHI opened at $9.43 on Friday. Pioneer Municipal High Income Fund, Inc. has a 1 year low of $6.93 and a 1 year high of $9.57. The business has a fifty day simple moving average of $9.17 and a 200 day simple moving average of $8.90.

Pioneer Municipal High Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.035 per share. The ex-dividend date is Tuesday, August 20th. This represents a $0.42 annualized dividend and a dividend yield of 4.45%.

Institutional Trading of Pioneer Municipal High Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Whitebox Advisors LLC lifted its position in shares of 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 worth $3,009,000 after buying an additional 107,248 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of 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 acquiring an additional 21,564 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Pioneer Municipal High Income Fund by 1.5% in the 1st quarter. Park Avenue Securities LLC now owns 118,022 shares of the investment management company’s stock valued at $1,043,000 after acquiring an additional 1,778 shares in the last quarter. Gridiron Partners LLC bought a new position in shares of Pioneer Municipal High Income Fund in the 4th quarter valued at approximately $872,000. Finally, Raymond James & Associates raised its stake in shares of Pioneer Municipal High Income Fund by 3.0% in the 4th quarter. Raymond James & Associates now owns 69,976 shares of the investment management company’s stock valued at $604,000 after acquiring an additional 2,067 shares in the last quarter.

Pioneer Municipal High Income Fund Company Profile

(Get Free Report)

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.