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

Miller/Howard High Income Equity Fund (NYSE:HIE) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 15,900 shares, a growth of 169.5% from the March 15th total of 5,900 shares. Based on an average daily volume of 33,500 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 52,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $10.60, for a total transaction of $551,200.00. Following the completion of the sale, the insider now owns 2,059,736 shares of the company’s stock, valued at approximately $21,833,201.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 122,240 shares of company stock valued at $1,292,081 in the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. raised its holdings in shares of Miller/Howard High Income Equity Fund by 45.5% during the 1st quarter. City of London Investment Management Co. Ltd. now owns 864,964 shares of the company’s stock worth $9,649,000 after acquiring an additional 270,456 shares in the last quarter. Mariner LLC purchased a new stake in Miller/Howard High Income Equity Fund during the 4th quarter valued at $2,403,000. 1607 Capital Partners LLC raised its holdings in Miller/Howard High Income Equity Fund by 24.3% during the 3rd quarter. 1607 Capital Partners LLC now owns 818,292 shares of the company’s stock valued at $8,117,000 after buying an additional 159,890 shares during the period. Atlas Wealth LLC raised its holdings in Miller/Howard High Income Equity Fund by 3.7% during the 3rd quarter. Atlas Wealth LLC now owns 1,748,023 shares of the company’s stock valued at $17,340,000 after buying an additional 62,803 shares during the period. Finally, Almitas Capital LLC raised its holdings in Miller/Howard High Income Equity Fund by 4.6% during the 3rd quarter. Almitas Capital LLC now owns 1,061,308 shares of the company’s stock valued at $10,528,000 after buying an additional 46,679 shares during the period.

Miller/Howard High Income Equity Fund Trading Down 0.4 %

Shares of NYSE:HIE opened at $11.05 on Thursday. The stock has a 50 day moving average of $10.76 and a 200 day moving average of $10.38. Miller/Howard High Income Equity Fund has a 12-month low of $9.49 and a 12-month high of $11.12.

Miller/Howard High Income Equity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid a $0.051 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.61 annualized dividend and a yield of 5.54%.

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.