Saba Capital Management, L.P., led by Boaz Weinstein, recently increased its stake in Pioneer Municipal High Income Fund, Inc. (NYSE:MHI), a $219 million market cap fund currently trading near its 52-week high of $9.72. According to a recent SEC filing, the firm purchased 14,092 shares of common stock at a price of $9.54 per share, totaling approximately $134,437. This acquisition brings Saba Capital's total holdings in the fund to 3,883,607 shares. The fund, which offers a 4.38% dividend yield and has maintained dividend payments for 22 consecutive years according to InvestingPro, continues to attract institutional interest. The transaction reflects Saba Capital's continued interest in the municipal high-income sector, aligning with its investment strategies. InvestingPro subscribers have access to 6 additional key insights about MHI's financial health and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Should you invest $2,000 in MHI right now?
Before you buy stock in MHI, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is MHI one of them?
Reveal Undervalued Stocks Now