Short Interest in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Declines By 18.3%

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 17,800 shares, a drop of 18.3% from the September 15th total of 21,800 shares. Based on an average trading volume of 45,600 shares, the short-interest ratio is currently 0.4 days.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 12,089 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $9.13 per share, with a total value of $110,372.57. Following the completion of the acquisition, the insider now owns 3,511,022 shares of the company’s stock, valued at $32,055,630.86. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 100,079 shares of company stock valued at $938,873 over the last quarter.

Institutional Trading of Pioneer Municipal High Income Fund

A number of large investors have recently modified their holdings of the company. Whitebox Advisors LLC increased its holdings in shares of Pioneer Municipal High Income Fund by 48.3% in the 2nd quarter. Whitebox Advisors LLC now owns 329,238 shares of the investment management company’s stock worth $3,009,000 after acquiring an additional 107,248 shares during the period. Blue Bell Private Wealth Management LLC grew its position in Pioneer Municipal High Income Fund by 6.4% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 29,804 shares of the investment management company’s stock valued at $272,000 after buying an additional 1,800 shares in the last quarter. Rothschild Investment LLC bought a new position in Pioneer Municipal High Income Fund in the 2nd quarter valued at about $46,000. Integrated Capital Management Inc. grew its position in Pioneer Municipal High Income Fund by 7.1% in the 2nd quarter. Integrated Capital Management Inc. now owns 20,585 shares of the investment management company’s stock valued at $188,000 after buying an additional 1,370 shares in the last quarter. Finally, Park Avenue Securities LLC grew its position in 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 buying an additional 1,778 shares in the last quarter.

Pioneer Municipal High Income Fund Stock Performance

Pioneer Municipal High Income Fund stock opened at $9.57 on Friday. Pioneer Municipal High Income Fund has a one year low of $6.93 and a one year high of $9.72. The company has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $9.12.

Pioneer Municipal High Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 18th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 4.39%.

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.