Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Plans Dividend Increase – $0.04 Per Share

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) announced a monthly dividend on Friday, April 5th, Wall Street Journal reports. Investors of record on Friday, April 19th will be given a dividend of 0.035 per share by the investment management company on Wednesday, May 1st. This represents a $0.42 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Thursday, April 18th. This is a boost from Pioneer Municipal High Income Fund’s previous monthly dividend of $0.03.

Pioneer Municipal High Income Fund Trading Down 0.6 %

NYSE MHI traded down $0.05 on Friday, reaching $8.68. The company had a trading volume of 41,379 shares, compared to its average volume of 91,659. The stock’s 50 day moving average is $8.75 and its 200-day moving average is $8.20. Pioneer Municipal High Income Fund has a 52 week low of $6.93 and a 52 week high of $9.05.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 17,517 shares of Pioneer Municipal High Income Fund stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average cost of $8.49 per share, with a total value of $148,719.33. Following the completion of the transaction, the insider now owns 3,284,530 shares of the company’s stock, valued at approximately $27,885,659.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 110,423 shares of company stock worth $957,560.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new position in Pioneer Municipal High Income Fund during the first quarter valued at approximately $37,000. Nomura Holdings Inc. acquired a new position in Pioneer Municipal High Income Fund during the second quarter valued at approximately $94,000. Worth Asset Management LLC acquired a new position in Pioneer Municipal High Income Fund during the first quarter valued at approximately $110,000. Quantedge Capital Pte Ltd acquired a new stake in shares of Pioneer Municipal High Income Fund in the first quarter valued at approximately $125,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Pioneer Municipal High Income Fund in the first quarter valued at approximately $120,000.

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.