Pioneer Municipal High Inc (NYSE:MAV) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 17,300 shares, an increase of 68.0% from the August 31st total of 10,300 shares. Based on an average daily volume of 59,100 shares, the short-interest ratio is presently 0.3 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MAV. Flagship Harbor Advisors LLC lifted its position in Pioneer Municipal High by 17.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 6,694 shares of the company’s stock worth $68,000 after buying an additional 1,000 shares in the last quarter. UBS Group AG grew its stake in Pioneer Municipal High by 1.8% during the second quarter. UBS Group AG now owns 64,459 shares of the company’s stock valued at $677,000 after acquiring an additional 1,162 shares in the last quarter. Camelot Portfolios LLC increased its holdings in Pioneer Municipal High by 20.0% during the 2nd quarter. Camelot Portfolios LLC now owns 12,000 shares of the company’s stock worth $126,000 after acquiring an additional 2,000 shares during the period. Commonwealth Equity Services LLC increased its holdings in Pioneer Municipal High by 19.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 18,534 shares of the company’s stock worth $194,000 after acquiring an additional 3,017 shares during the period. Finally, Royal Bank of Canada lifted its stake in Pioneer Municipal High by 13.7% in the 1st quarter. Royal Bank of Canada now owns 42,766 shares of the company’s stock worth $435,000 after purchasing an additional 5,141 shares in the last quarter.
Pioneer Municipal High stock traded down $0.07 during midday trading on Wednesday, hitting $10.92. 37,878 shares of the stock were exchanged, compared to its average volume of 85,697. The company has a fifty day simple moving average of $11.05 and a two-hundred day simple moving average of $10.58. Pioneer Municipal High has a 52 week low of $7.61 and a 52 week high of $11.45.
The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.95%.
A number of equities research analysts recently weighed in on the stock. Raymond James downgraded shares of Pioneer Municipal High to a “market perform” rating in a research note on Monday, June 8th. National Bank Financial raised Pioneer Municipal High to an “outperform” rating and set a $6.00 price target on the stock in a research note on Monday, August 17th.
Pioneer Municipal High Company Profile
Pioneer Municipal High Income Advantage Trust is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc The fund invests in the fixed income markets of the United States. It invests primarily in municipal bonds. The fund benchmarks the performance of its portfolio against the Barclays Capital High Yield Municipal Bond Index and the Barclays Capital Municipal Bond Index.
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