Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Short Interest Down 19.0% in June

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 118,500 shares, a decrease of 19.0% from the May 31st total of 146,300 shares. Based on an average daily volume of 49,100 shares, the days-to-cover ratio is currently 2.4 days.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. purchased 3,538 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $8.88 per share, with a total value of $31,417.44. Following the purchase, the insider now directly owns 3,453,223 shares in the company, valued at approximately $30,664,620.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 19,408 shares of company stock valued at $171,533 in the last 90 days.

Hedge Funds Weigh In On Pioneer Municipal High Income Fund

Large investors have recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its holdings 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. Raymond James & Associates grew its holdings 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. Nomura Holdings Inc. bought a new position in shares of Pioneer Municipal High Income Fund in the 4th quarter valued at about $104,000. Flow State Investments L.P. bought a new position in shares of Pioneer Municipal High Income Fund in the 4th quarter valued at about $181,000. Finally, Van ECK Associates Corp grew its holdings 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.

Pioneer Municipal High Income Fund Stock Performance

MHI stock opened at $9.14 on Friday. The stock has a 50-day moving average price of $8.88 and a two-hundred day moving average price of $8.74. Pioneer Municipal High Income Fund has a 1 year low of $6.93 and a 1 year high of $9.25.

Pioneer Municipal High Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Tuesday, June 18th were issued a dividend of $0.035 per share. This represents a $0.42 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Tuesday, June 18th.

Pioneer Municipal High Income Fund Company Profile

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.