Miller/Howard High Income Equity Fund (HIE) to Issue Monthly Dividend of $0.05 on June 28th

Miller/Howard High Income Equity Fund (NYSE:HIE) declared a monthly dividend on Wednesday, April 3rd, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be given a dividend of 0.051 per share on Friday, June 28th. This represents a $0.61 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Friday, June 21st.

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

Miller/Howard High Income Equity Fund Price Performance

Miller/Howard High Income Equity Fund stock opened at $11.05 on Friday. Miller/Howard High Income Equity Fund has a 52 week low of $9.49 and a 52 week high of $11.12. The company’s 50 day moving average price is $10.72 and its two-hundred day moving average price is $10.35.

Insider Activity at Miller/Howard High Income Equity Fund

In related news, major shareholder Saba Capital Management, L.P. sold 39,914 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $10.60, for a total value of $423,088.40. Following the transaction, the insider now owns 2,136,736 shares in the company, valued at $22,649,401.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 166,958 shares of company stock worth $1,766,236.

Hedge Funds Weigh In On Miller/Howard High Income Equity Fund

Several institutional investors have recently bought and sold shares of HIE. City of London Investment Management Co. Ltd. lifted its stake 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 valued at $9,649,000 after purchasing an additional 270,456 shares during the last quarter. Mariner LLC purchased a new stake in shares of Miller/Howard High Income Equity Fund during the fourth quarter worth $2,403,000. Ameriprise Financial Inc. lifted its position in shares of Miller/Howard High Income Equity Fund by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 742,212 shares of the company’s stock worth $7,349,000 after acquiring an additional 24,368 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Miller/Howard High Income Equity Fund during the fourth quarter worth $238,000. Finally, Bank of Montreal Can purchased a new stake in shares of Miller/Howard High Income Equity Fund during the second quarter worth $137,000.

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.