Raymond James & Associates Has $604,000 Stock Position in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI)

Raymond James & Associates grew its holdings in shares of Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) by 3.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 69,976 shares of the investment management company’s stock after acquiring an additional 2,067 shares during the period. Raymond James & Associates’ holdings in Pioneer Municipal High Income Fund were worth $604,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Saba Capital Management L.P. grew its holdings in shares of Pioneer Municipal High Income Fund by 373.5% during the third quarter. Saba Capital Management L.P. now owns 2,366,369 shares of the investment management company’s stock valued at $17,109,000 after buying an additional 1,866,605 shares during the last quarter. AQR Arbitrage LLC grew its holdings in shares of Pioneer Municipal High Income Fund by 86.3% during the third quarter. AQR Arbitrage LLC now owns 327,254 shares of the investment management company’s stock valued at $2,366,000 after buying an additional 151,617 shares during the last quarter. Advisor Partners II LLC acquired a new position in shares of Pioneer Municipal High Income Fund during the third quarter valued at about $2,251,000. Park Avenue Securities LLC grew its holdings in shares of Pioneer Municipal High Income Fund by 7.0% during the third quarter. Park Avenue Securities LLC now owns 112,956 shares of the investment management company’s stock valued at $817,000 after buying an additional 7,434 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Pioneer Municipal High Income Fund by 125.1% during the third quarter. Bank of New York Mellon Corp now owns 50,264 shares of the investment management company’s stock valued at $363,000 after buying an additional 27,931 shares during the last quarter.

Pioneer Municipal High Income Fund Stock Performance

Shares of NYSE MHI opened at $8.60 on Thursday. The company has a 50-day moving average price of $8.73 and a 200-day moving average price of $8.32. Pioneer Municipal High Income Fund, Inc. has a 1 year low of $6.93 and a 1 year high of $8.95.

Pioneer Municipal High Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 19th will be given a dividend of $0.035 per share. This is a positive change from Pioneer Municipal High Income Fund’s previous monthly dividend of $0.03. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 18th.

Insider Buying and Selling at Pioneer Municipal High Income Fund

In related news, major shareholder Saba Capital Management, L.P. bought 30,534 shares of the company’s stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $8.93 per share, for a total transaction of $272,668.62. Following the completion of the purchase, the insider now directly owns 3,400,844 shares in the company, valued at $30,369,536.92. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 53,717 shares of company stock worth $471,022 over the last three months.

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.