Pioneer Municipal High Income Fund, INC
Market Movers (8-K)
John (Jake) Crosby van Roden III assumes day-to-day management responsibilities for Pioneer Municipal High Income Fund, Inc., Pioneer Municipal High Income Advantage Fund, Inc., and Pioneer Municipal High Income Opportunities Fund, Inc., effective immediately.
The Board of Directors of six Pioneer funds amended their bylaws to remove a provision related to the Maryland Control Share Acquisition Act, potentially impacting voting rights for significant shareholders.
The Boards of Directors of six Pioneer closed-end funds have approved a plan of liquidation, which will be submitted to stockholders for approval at a Special Meeting.
Worse than expected
Delay expected
Pioneer Funds are undergoing a transition in investment advisory services from Amundi US to Victory Capital following a merger, with shareholder approval pending for a new advisory agreement.
Pioneer Municipal High Income Fund, Inc., Pioneer Municipal High Income Advantage Fund, Inc., and Pioneer Municipal High Income Opportunities Fund, Inc. have postponed their Special Meeting of Stockholders originally scheduled for March 26, 2025, to allow shareholders more time to vote.
Delay expected
Amundi US has announced a definitive agreement to combine its investment adviser with Victory Capital, potentially leading to new advisory agreements for several Pioneer closed-end funds.
Insider Trading (Form 4)
Saba Capital Management, L.P. and Boaz Weinstein reported the disposition of all their shares in Pioneer Municipal High Income Fund, Inc. following the fund's liquidation.
Bank of America's subsidiary, Banc of America Preferred Funding Corporation, redeemed its entire holding of 500 Variable Rate MuniFund Term Preferred Shares in Pioneer Municipal High Income Fund, Inc.
Saba Capital Management, a 10% owner and director in Pioneer Municipal High Income Fund, acquired 9,305 shares of common stock at $8.78 per share on April 22, 2025, increasing its indirect beneficial ownership.
Saba Capital Management, along with Boaz Weinstein, reports an increase in their beneficial ownership of Pioneer Municipal High Income Fund, acquiring 13,343 shares at $8.70 per share.
Saba Capital Management, a 10% owner and director in Pioneer Municipal High Income Fund, acquired additional shares of common stock.
Saba Capital Management, a 10% owner and director in Pioneer Municipal High Income Fund, increased its holdings by purchasing 3,716 shares of common stock.
Proxy Statements (Def-14A)
Pioneer Closed-End Funds are urging stockholders to vote on a proposal for the liquidation and dissolution of each fund, with the Boards of Directors unanimously recommending a 'FOR' vote.
Worse than expected
DEF: Pioneer Funds Propose Liquidation Amidst Failed Advisory Agreement Approval and Activist Pressure
Six Pioneer closed-end funds are seeking stockholder approval to liquidate and dissolve after failing to secure a new investment advisory agreement with Victory Capital, exacerbated by significant activist investor opposition.
Worse than expected
Delay expected
Pioneer Municipal High Income Fund, Inc. (MHI), Pioneer Municipal High Income Advantage Fund, Inc. (MAV), and Pioneer Municipal High Income Opportunities Fund, Inc. (MIO) have postponed their Special Meeting of Stockholders originally scheduled for March 26, 2025, to allow shareholders more time to vote.
Delay expected
Pioneer Municipal High Income Funds are seeking stockholder approval for a new investment advisory agreement with Victory Capital Management Inc. following a merger, while facing opposition from Saba Capital Management, L.P.
Saba Capital is soliciting proxies to vote against the proposed new investment advisory agreement with Victory Capital Management Inc., advocating for shareholders to have the option to exit the fund at net asset value (NAV).
Pioneer Funds is contacting stockholders to confirm receipt of proxy materials and encourage voting on a proposal at the Special Meeting of Stockholders scheduled for October 3, 2024.
Schedule 13D - Activist Investments
Saba Capital Management and its affiliates have fully divested their beneficial ownership in Pioneer Municipal High Income Fund, Inc., now holding 0% of common shares.
Worse than expected
Bank of America Corporation and its affiliate have fully redeemed their Variable Rate MuniFund Term Preferred Shares in Pioneer Municipal High Income Fund, Inc., ceasing beneficial ownership.
SCHEDULE 13D/A: Saba Capital Launches Proxy Fight Against Pioneer Municipal High Income Fund's New Advisory Agreement, Demands NAV Exit Option
Activist investor Saba Capital Management, holding an 18.15% stake, has filed a preliminary proxy statement to oppose Pioneer Municipal High Income Fund's proposed new investment advisory agreement with Victory Capital Management Inc., advocating for shareholders to be granted an exit option at Net Asset Value (NAV).
Worse than expected
SCHEDULE 13D/A: Saba Capital Launches Proxy Fight Against Pioneer Municipal High Income Fund's Reorganization Plan
Saba Capital Management, a significant shareholder, has filed a preliminary proxy statement to oppose Pioneer Municipal High Income Fund's proposed reorganization, advocating for shareholders to have an option to exit at net asset value.
Worse than expected
Schedule 13G - Passive Investments
Almitas Capital LLC has filed a Schedule 13G indicating no beneficial ownership in Pioneer Municipal High Income Fund, Inc. as of September 30, 2025.
Almitas Capital LLC and Ronald Mass have disclosed a 5.2% beneficial ownership stake in Pioneer Municipal High Income Fund, Inc. common stock.
RiverNorth Capital Management, LLC has filed an amended Schedule 13G, disclosing a 4.41% beneficial ownership in Pioneer Municipal High Income Fund, Inc.
Sit Investment Associates and its subsidiary Sit Fixed Income Advisors II, LLC, reported a combined 11.5% beneficial ownership stake in Pioneer Municipal High Income Fund, Inc.
SCHEDULE 13G/A: RiverNorth Capital Management Discloses 8.36% Stake in Pioneer Municipal High Income Fund
RiverNorth Capital Management, LLC has reported a beneficial ownership of 8.36% in Pioneer Municipal High Income Fund, Inc., holding 1,903,504 common shares as of March 31, 2025.
SCHEDULE 13G/A: RiverNorth Capital Management Discloses 7.21% Stake in Pioneer Municipal High Income Fund
RiverNorth Capital Management, LLC has filed an amended Schedule 13G, revealing a 7.21% beneficial ownership stake in Pioneer Municipal High Income Fund, Inc. as of December 31, 2024.