Saba Capital Management, L.P. Purchases 106,755 Shares of Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. purchased 106,755 shares of the business’s stock in a transaction on Monday, November 6th. The shares were bought at an average cost of $7.33 per share, with a total value of $782,514.15. Following the acquisition, the insider now directly owns 2,836,740 shares of the company’s stock, valued at approximately $20,793,304.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, October 31st, Saba Capital Management, L.P. acquired 54,077 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $6.96 per share, for a total transaction of $376,375.92.
• On Monday, October 16th, Saba Capital Management, L.P. bought 211,503 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average cost of $7.27 per share, with a total value of $1,537,626.81.
• On Friday, October 13th, Saba Capital Management, L.P. bought 41,520 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average price of $7.33 per share, for a total transaction of $304,341.60.
• On Tuesday, October 10th, Saba Capital Management, L.P. purchased 4,323 shares of Pioneer Municipal High Income Fund stock. The stock was purchased at an average price of $7.21 per share, with a total value of $31,168.83.
• On Tuesday, October 3rd, Saba Capital Management, L.P. acquired 6,763 shares of Pioneer Municipal High Income Fund stock. The shares were purchased at an average price of $7.17 per share, for a total transaction of $48,490.71.

Pioneer Municipal High Income Fund Stock Performance

MHI opened at $7.57 on Thursday. The firm’s fifty day moving average is $7.43 and its 200 day moving average is $8.12. Pioneer Municipal High Income Fund, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $9.53.

Pioneer Municipal High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be given a $0.0275 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $0.33 annualized dividend and a dividend yield of 4.36%.

Institutional Trading of Pioneer Municipal High Income Fund

Several institutional investors have recently made changes to their positions in MHI. Raymond James & Associates lifted its holdings in Pioneer Municipal High Income Fund by 26.0% in the 1st quarter. Raymond James & Associates now owns 40,134 shares of the investment management company’s stock worth $421,000 after purchasing an additional 8,292 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Pioneer Municipal High Income Fund in the first quarter worth about $185,000. Worth Asset Management LLC bought a new position in Pioneer Municipal High Income Fund during the first quarter valued at approximately $110,000. Quantedge Capital Pte Ltd bought a new position in shares of Pioneer Municipal High Income Fund during the 1st quarter valued at approximately $125,000. Finally, UBS Group AG raised its stake in Pioneer Municipal High Income Fund by 3.6% during the first quarter. UBS Group AG now owns 34,412 shares of the investment management company’s stock valued at $362,000 after purchasing an additional 1,201 shares in the last quarter.

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.