Saba Capital Management, L.P., 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 capitalization 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 over two transactions, with a total investment of approximately $468,202.
The transactions took place on December 27 and December 30, with purchase prices ranging 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.
This 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 keep a close eye on such transactions to gauge the confidence of significant shareholders in a company's prospects.
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