Miller/Howard High Income Equity Fund (NYSE:HIE) Trading 1.2% Higher

Miller/Howard High Income Equity Fund (NYSE:HIE)’s stock price shot up 1.2% during mid-day trading on Thursday . The company traded as high as $11.10 and last traded at $11.08. 24,334 shares traded hands during trading, a decline of 28% from the average session volume of 33,707 shares. The stock had previously closed at $10.95.

Miller/Howard High Income Equity Fund Stock Up 1.2 %

The stock’s 50 day moving average price is $10.67 and its two-hundred day moving average price is $10.32.

Miller/Howard High Income Equity Fund Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 24th were paid a dividend of $0.051 per share. This represents a dividend yield of 5.81%. The ex-dividend date was Tuesday, January 23rd.

Insider Buying and Selling

In other Miller/Howard High Income Equity Fund news, major shareholder Saba Capital Management, L.P. sold 39,914 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $10.60, for a total transaction of $423,088.40. Following the transaction, the insider now directly owns 2,136,736 shares in the company, valued at $22,649,401.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 166,958 shares of company stock worth $1,766,236.

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

Several hedge funds and other institutional investors have recently modified their holdings of HIE. Raymond James & Associates increased its stake in Miller/Howard High Income Equity Fund by 7.9% during the first quarter. Raymond James & Associates now owns 18,070 shares of the company’s stock valued at $202,000 after acquiring an additional 1,320 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Miller/Howard High Income Equity Fund in the first quarter valued at $135,000. NewEdge Advisors LLC raised its stake in shares of Miller/Howard High Income Equity Fund by 11.4% in the first quarter. NewEdge Advisors LLC now owns 24,930 shares of the company’s stock valued at $278,000 after purchasing an additional 2,548 shares in the last quarter. City of London Investment Management Co. Ltd. lifted its position in Miller/Howard High Income Equity Fund by 45.5% in the first quarter. City of London Investment Management Co. Ltd. now owns 864,964 shares of the company’s stock worth $9,649,000 after purchasing an additional 270,456 shares during the period. Finally, Bank of America Corp DE increased its holdings in Miller/Howard High Income Equity Fund by 3.5% in the 1st quarter. Bank of America Corp DE now owns 203,933 shares of the company’s stock valued at $2,276,000 after buying an additional 6,832 shares during the period.

Miller/Howard High Income Equity Fund Company Profile

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.