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

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

Miller/Howard High Income Equity Fund Stock Performance

Shares of HIE opened at $10.77 on Friday. Miller/Howard High Income Equity Fund has a 12 month low of $9.49 and a 12 month high of $11.14. The company’s fifty day moving average is $10.77 and its 200-day moving average is $10.39.

Miller/Howard High Income Equity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Investors 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 dividend on an annualized basis and a yield of 5.68%.

Insider Buying and Selling at Miller/Howard High Income Equity Fund

In other news, major shareholder Saba Capital Management, L.P. sold 23,195 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $10.56, for a total transaction of $244,939.20. Following the transaction, the insider now owns 2,015,277 shares in the company, valued at approximately $21,281,325.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 97,240 shares of company stock worth $1,026,331.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HIE. Envestnet Asset Management Inc. bought a new stake in Miller/Howard High Income Equity Fund in the 1st quarter valued at $128,000. Oppenheimer & Co. Inc. bought a new stake in Miller/Howard High Income Equity Fund in the 1st quarter valued at $135,000. Bank of Montreal Can bought a new stake in Miller/Howard High Income Equity Fund in the 2nd quarter valued at $137,000. LPL Financial LLC boosted its holdings in Miller/Howard High Income Equity Fund by 13.5% in the 3rd quarter. LPL Financial LLC now owns 16,918 shares of the company’s stock valued at $168,000 after purchasing an additional 2,015 shares during the period. Finally, Raymond James & Associates boosted its holdings in Miller/Howard High Income Equity Fund by 7.9% in the 1st quarter. Raymond James & Associates now owns 18,070 shares of the company’s stock valued at $202,000 after purchasing an additional 1,320 shares during the period.

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.