Saba Capital Management, L.P. Purchases 2,500 Shares of Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Stock

Posted by Don Miller on Aug 29th, 2024

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI – Get Free Report) major shareholder Saba Capital Management, L.P. bought 2,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was acquired at an average price of $9.40 per share, with a total value of $23,500.00. Following the completion of the acquisition, the insider now owns 3,613,114 shares of the company’s stock, valued at approximately $33,963,271.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major 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 Friday, August 23rd, Saba Capital Management, L.P. acquired 4,360 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $9.43 per share, with a total value of $41,114.80.
On Wednesday, August 21st, Saba Capital Management, L.P. bought 1,400 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average price of $9.42 per share, for a total transaction of $13,188.00.
On Monday, August 19th, Saba Capital Management, L.P. purchased 100 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average price of $9.43 per share, with a total value of $943.00.
On Thursday, August 15th, Saba Capital Management, L.P. purchased 24,611 shares of Pioneer Municipal High Income Fund stock. The stock was bought at an average cost of $9.43 per share, with a total value of $232,081.73.
On Monday, August 12th, Saba Capital Management, L.P. acquired 1,100 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost 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 purchased at an average price of $9.41 per share, for a total transaction 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 price of $9.34 per share, with a total value 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 bought at an average price of $9.13 per share, for a total transaction 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 purchased at an average price of $9.20 per share, for a total transaction of $420,532.00.

Pioneer Municipal High Income Fund Price Performance

Shares of MHI stock remained flat at $9.45 during trading on Thursday. The stock had a trading volume of 51,916 shares, compared to its average volume of 66,042. The business’s 50 day moving average is $9.24 and its two-hundred day moving average is $8.95. Pioneer Municipal High Income Fund, Inc. has a 52 week low of $6.93 and a 52 week high of $9.57.

Pioneer Municipal High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 30th. Investors 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 of this dividend is Tuesday, August 20th.

Institutional Inflows and Outflows

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

About Pioneer Municipal High Income Fund

(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.