Tyche Wealth Partners LLC Invests $520,000 in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI)

Tyche Wealth Partners LLC purchased a new stake in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 60,287 shares of the investment management company’s stock, valued at approximately $520,000.

Several other institutional investors also recently bought and sold shares of the company. Saba Capital Management L.P. boosted its stake in shares of Pioneer Municipal High Income Fund by 373.5% in the third quarter. Saba Capital Management L.P. now owns 2,366,369 shares of the investment management company’s stock worth $17,109,000 after acquiring an additional 1,866,605 shares during the last quarter. Morgan Stanley boosted its stake in Pioneer Municipal High Income Fund by 25.1% during the 4th quarter. Morgan Stanley now owns 1,660,133 shares of the investment management company’s stock worth $14,244,000 after purchasing an additional 333,285 shares during the last quarter. Advisor Partners II LLC purchased a new stake in shares of Pioneer Municipal High Income Fund during the third quarter worth $2,251,000. UBS Group AG raised its position in shares of Pioneer Municipal High Income Fund by 626.6% in the second quarter. UBS Group AG now owns 250,045 shares of the investment management company’s stock valued at $2,320,000 after buying an additional 215,633 shares during the last quarter. Finally, Logan Stone Capital LLC lifted its stake in shares of Pioneer Municipal High Income Fund by 783.2% in the fourth quarter. Logan Stone Capital LLC now owns 173,222 shares of the investment management company’s stock worth $1,486,000 after buying an additional 153,609 shares in the last quarter.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 17,517 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was purchased at an average cost of $8.49 per share, for a total transaction of $148,719.33. Following the completion of the acquisition, the insider now owns 3,284,530 shares in the company, valued at approximately $27,885,659.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 53,717 shares of company stock valued at $471,022 over the last ninety days.

Pioneer Municipal High Income Fund Stock Performance

MHI traded down $0.01 on Wednesday, reaching $8.56. 70,138 shares of the company’s stock were exchanged, compared to its average volume of 87,405. Pioneer Municipal High Income Fund, Inc. has a twelve month low of $6.93 and a twelve month high of $8.98. The stock’s fifty day moving average price is $8.76 and its 200-day moving average price is $8.27.

Pioneer Municipal High Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Friday, April 19th will be given a dividend of $0.035 per share. This is a boost from Pioneer Municipal High Income Fund’s previous monthly dividend of $0.03. This represents a $0.42 annualized dividend and a yield of 4.91%. The ex-dividend date is Thursday, April 18th.

Pioneer Municipal High Income Fund 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.