Saba Capital Management, L.P., a prominent investment firm, has increased its holdings in the Pioneer Municipal High Income Fund, Inc. (NYSE:MHI), according to a recent SEC filing. The firm acquired a total of 20,549 shares over two days, amounting to an investment of $194,522. The transactions occurred on November 26 and November 27, with shares purchased at prices ranging from $9.46 to $9.49 each. According to InvestingPro data, MHI has demonstrated remarkable stability with a low beta of 0.67 and has maintained dividend payments for 22 consecutive years, currently offering a 4.38% yield.
Following these transactions, Saba Capital Management now holds 3,869,515 shares of the fund, representing a significant portion of MHI's $219.06M market capitalization. The acquisitions were made indirectly, reflecting the firm's strategic interest in the municipal high-income sector. The filing also lists Boaz Weinstein as a reporting owner, underscoring his significant role in the firm's investment decisions. The fund has shown strong performance with a 15.61% year-to-date return, and is currently trading near its 52-week high. Get access to more detailed insights and 6 additional ProTips with InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.