Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Increases Dividend to $0.04 Per Share

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) announced a monthly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Thursday, April 18th. This is a positive change from Pioneer Municipal High Income Fund’s previous monthly dividend of $0.03.

Pioneer Municipal High Income Fund Trading Up 0.2 %

NYSE:MHI opened at $8.58 on Wednesday. Pioneer Municipal High Income Fund has a 12 month low of $6.93 and a 12 month high of $8.98. The stock has a 50 day moving average of $8.76 and a two-hundred day moving average of $8.27.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 30,534 shares of the business’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $8.93 per share, for a total transaction of $272,668.62. Following the purchase, the insider now owns 3,400,844 shares in the company, valued at $30,369,536.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 53,717 shares of company stock worth $471,022.

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

A number of large investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC purchased a new stake in shares of Pioneer Municipal High Income Fund in the fourth quarter valued at approximately $1,021,000. Pathstone Holdings LLC purchased a new position in Pioneer Municipal High Income Fund in the fourth quarter worth approximately $10,110,000. Nomura Holdings Inc. purchased a new position in Pioneer Municipal High Income Fund in the fourth quarter worth approximately $104,000. Envestnet Asset Management Inc. grew its position in Pioneer Municipal High Income Fund by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 137,646 shares of the investment management company’s stock worth $1,188,000 after acquiring an additional 11,843 shares during the period. Finally, Stifel Financial Corp grew its position in Pioneer Municipal High Income Fund by 5.1% in the fourth quarter. Stifel Financial Corp now owns 29,475 shares of the investment management company’s stock worth $254,000 after acquiring an additional 1,423 shares during the period.

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.