Miller/Howard High Income Equity Fund (NYSE:HIE) Sees Significant Decline in Short Interest

Miller/Howard High Income Equity Fund (NYSE:HIE) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 14,900 shares, a decline of 6.3% from the March 31st total of 15,900 shares. Based on an average trading volume of 39,000 shares, the short-interest ratio is currently 0.4 days.

Miller/Howard High Income Equity Fund Stock Performance

Shares of Miller/Howard High Income Equity Fund stock opened at $10.95 on Tuesday. The stock’s 50-day simple moving average is $10.85 and its 200-day simple moving average is $10.48. Miller/Howard High Income Equity Fund has a 52 week low of $9.49 and a 52 week high of $11.14.

Miller/Howard High Income Equity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 21st will be given a $0.051 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.59%.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 4,076 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $10.33, for a total value of $42,105.08. Following the transaction, the insider now directly owns 1,990,471 shares in the company, valued at $20,561,565.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Miller/Howard High Income Equity Fund

A number of hedge funds have recently made changes to their positions in HIE. Balboa Wealth Partners increased its stake in Miller/Howard High Income Equity Fund by 26.0% during the third quarter. Balboa Wealth Partners now owns 95,116 shares of the company’s stock worth $944,000 after acquiring an additional 19,600 shares during the last quarter. Atlas Wealth LLC increased its stake in Miller/Howard High Income Equity Fund by 3.7% during the third quarter. Atlas Wealth LLC now owns 1,748,023 shares of the company’s stock worth $17,340,000 after acquiring an additional 62,803 shares during the last quarter. Cornerstone Advisors LLC increased its stake in Miller/Howard High Income Equity Fund by 39.5% during the third quarter. Cornerstone Advisors LLC now owns 29,192 shares of the company’s stock worth $290,000 after acquiring an additional 8,273 shares during the last quarter. City of London Investment Management Co. Ltd. increased its stake in Miller/Howard High Income Equity Fund by 6.0% during the third quarter. City of London Investment Management Co. Ltd. now owns 885,247 shares of the company’s stock worth $8,782,000 after acquiring an additional 49,896 shares during the last quarter. Finally, 1607 Capital Partners LLC increased its stake in Miller/Howard High Income Equity Fund by 24.3% during the third quarter. 1607 Capital Partners LLC now owns 818,292 shares of the company’s stock worth $8,117,000 after acquiring an additional 159,890 shares during the last quarter.

About Miller/Howard High Income Equity Fund

Miller/Howard High Income Equity Fund is a closed ended equity mutual fund launched and managed by Miller Howard Investments, Inc It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in growth and high dividend paying stocks of companies.