Saba capital management buys $468,202 worth of Pioneer Municipal High Income Fund By Investing.com shares
Saba Capital Management, LP, a significant shareholder in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI), has increased its stake in the company through recent purchases of common stock. The fund, which maintains a market cap of $211.77 million and offers a 4.52% dividend yield, has maintained consistent dividend payments for 22 consecutive years according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Saba Capital acquired a total of 50,336 shares in two transactions, for a total investment of approximately $468,202.
The transactions took place on December 27 and 30, and the purchase prices ranged from $9.29 to $9.31 per share. Following these transactions, Saba Capital’s total holdings in Pioneer Municipal High Income Fund increased to 4,107,961 shares.
The move by Saba Capital, led by Boaz Weinstein, underscores the firm’s continued interest in the closed-end fund, which focuses on high-yield municipal bonds. Investors often closely monitor such transactions to gauge the confidence of significant shareholders in the company’s prospects.
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