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

Miller/Howard High Income Equity Fund (NYSE:HIE) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 14,900 shares, a drop 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 presently 0.4 days.

Insider Activity

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

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

Hedge funds have recently bought and sold shares of the company. Balboa Wealth Partners raised its stake in Miller/Howard High Income Equity Fund by 26.0% in the third quarter. Balboa Wealth Partners now owns 95,116 shares of the company’s stock valued at $944,000 after buying an additional 19,600 shares during the period. Atlas Wealth LLC raised its stake in Miller/Howard High Income Equity Fund by 3.7% in the 3rd quarter. Atlas Wealth LLC now owns 1,748,023 shares of the company’s stock valued at $17,340,000 after acquiring an additional 62,803 shares during the period. Cornerstone Advisors LLC lifted its holdings in Miller/Howard High Income Equity Fund by 39.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 29,192 shares of the company’s stock valued at $290,000 after purchasing an additional 8,273 shares during the last quarter. City of London Investment Management Co. Ltd. boosted its position 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 purchasing an additional 49,896 shares during the period. Finally, 1607 Capital Partners LLC increased its holdings in shares of Miller/Howard High Income Equity Fund by 24.3% in the third quarter. 1607 Capital Partners LLC now owns 818,292 shares of the company’s stock valued at $8,117,000 after purchasing an additional 159,890 shares during the last quarter.

Miller/Howard High Income Equity Fund Price Performance

NYSE HIE opened at $10.94 on Thursday. The firm’s fifty day moving average price is $10.86 and its two-hundred day moving average price is $10.49. Miller/Howard High Income Equity Fund has a 1 year low of $9.49 and a 1 year high of $11.14.

Miller/Howard High Income Equity Fund Announces Dividend

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

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.