Miller/Howard High Income Equity Fund (NYSE:HIE) to Issue Monthly Dividend of $0.05

Miller/Howard High Income Equity Fund (NYSE:HIEGet Free Report) announced a monthly dividend on Tuesday, April 2nd, Wall Street Journal reports. Investors of record on Friday, May 24th will be paid a dividend of 0.051 per share on Friday, May 31st. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date is Thursday, May 23rd.

Miller/Howard High Income Equity Fund has decreased its dividend payment by an average of 4.7% per year over the last three years.

Miller/Howard High Income Equity Fund Stock Performance

Miller/Howard High Income Equity Fund stock opened at $11.04 on Wednesday. The business has a 50-day simple moving average of $10.70 and a 200 day simple moving average of $10.34. Miller/Howard High Income Equity Fund has a 52 week low of $9.49 and a 52 week high of $11.12.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 39,914 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $10.60, for a total value of $423,088.40. Following the sale, the insider now directly owns 2,136,736 shares of the company’s stock, valued at $22,649,401.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 166,958 shares of company stock worth $1,766,236.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HIE. Envestnet Asset Management Inc. purchased a new position in shares of Miller/Howard High Income Equity Fund in the 1st quarter worth about $128,000. Oppenheimer & Co. Inc. bought a new stake in Miller/Howard High Income Equity Fund in the 1st quarter worth approximately $135,000. Bank of Montreal Can bought a new stake in Miller/Howard High Income Equity Fund in the 2nd quarter worth approximately $137,000. LPL Financial LLC boosted its stake in Miller/Howard High Income Equity Fund by 13.5% in the third quarter. LPL Financial LLC now owns 16,918 shares of the company’s stock worth $168,000 after buying an additional 2,015 shares in the last quarter. Finally, Raymond James & Associates grew its position 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 last quarter.

Miller/Howard High Income Equity Fund Company Profile

(Get Free Report)

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.

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Dividend History for Miller/Howard High Income Equity Fund (NYSE:HIE)

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