Miller/Howard High Income Equity Fund

Miller/Howard High Income Equity Fund is a closed-end investment Fund/investment trust company. It engages in investing on high-income equities strategically allocated across multiple sectors, and industries focusing on high current income, growth on income, and lower volatility. The fund’s primary investment objective is to seek a high level of current income. The company was founded on April 21, 2011 and is headquartered in Woodstock, NY.

Miller/Howard High Income Equity Fund is a closed-end investment Fund/investment trust company. It engages in investing on high-income equities strategically allocated across multiple sectors, and industries focusing on high current income, growth on income, and lower volatility. The fund?s primary investment objective is to seek a high level of current income. The company was founded on April 21, 2011 and is headquartered in Kingston, NY.

Kingston, NY, April 02, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) declared, on April 1, 2024, cash distributions of $0.051 per share for each of April, May, and June 2024. Effective May 28, 2024, US markets are moving to T+1 settlement. As a result of this new trading policy, the ex-date for the June distribution has been revised as per below. The record date and the payable date remains the same.

MILLER/HOWARD HIGH INCOME EQUITY FUND UPDATES MONTHLY DISTRIBUTION INFORMATION FOR THE JUNE DISTRIBUTION TO TAKE INTO ACCOUNT REVISED EX-DATE

Kingston, NY, April 01, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) declares cash distributions of $0.051 per share for each of April, May, and June 2024.

MILLER/HOWARD HIGH INCOME EQUITY FUND DECLARES MONTHLY DISTRIBUTIONS

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January saw some mixed results in terms of sector performance, with real estate returning some of the gains they saw in the previous couple of months.

5 Closed-End Fund Buys In The Month Of January 2024 (Includes 2 Swaps)

The Miller/howard High Income Equity fund has seen substantial gains since its Buy rating in 2023, driven by a narrowing of its discount to NAV and underlying equities delta. The fund is set to terminate in 2024, with the potential for a 1-year extension if approved by the Board.

HIE: Moving To Hold On This Term Fund (Rating Downgrade)

Miller/Howard High Income Equity Fund is expected to liquidate in November 2024, presenting a buying opportunity due to the potential for the fund's discount to narrow. The activist group Saba Capital holds a substantial stake in HIE, and that's pretty good company to be with. Though HIE's portfolio has a heavy weighting towards the energy sector, which can be a much more volatile area of the market.

HIE: Opportunity Left In This Term Fund

HIE seeks high current income by investing in high-yielding equities from various sectors. HIE has a specific termination date set for November 24, 2024, but it can be extended for one year to November 24, 2025, with approval from the Board of Trustees.

HIE: Term Fund With A High Discount

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This month I added to three of my already existing positions to grow my income. I'm continuing to avoid adding too much in terms of leveraged funds to deleverage my overall portfolio, and letting some cash build-up has a similar effect. The market overall is continuing to remain resilient despite another 25-basis point Fed hike and broader participation to the upside continued for a second month.

3 Closed-End Fund Buys In The Month Of July 2023

The Miller/Howard High Income Equity Fund is a term structured fund expected to liquidate by the end of 2024. The fund is diversified but leans towards the energy sector. HIE has reduced its leverage materially, which is seen as a positive move, in my opinion. The fund's advisory fee has also been reduced, which is another positive development. The fund's discount is still at a level where some alpha can be generated going into its termination, making it a decent choice to consider for investment.

HIE: An Attractive Dividend Portfolio With An Energy Tilt

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Term and target term funds, such as Miller/Howard High Income Equity Fund and Invesco High Income 2024 Target Term Fund, offer opportunities for investors to realize a fund's discount as they approach their termination dates. Both HIE and IHTA are set to liquidate in 2024, but investors should be aware of potential extensions and the possibility of funds going perpetual through tender offers. While not risk-free, these funds can provide alpha when investors realize the discount, but their performance may be affected by market conditions such as a deep recession.

HIE And IHTA: 2 CEFs Set To Liquidate In 2024

HIE is trading at an attractive discount despite the better relative performance over the last year, thanks to its energy exposure. A discount for a term fund is something that can be exploited, but we still have some time before the termination date.

HIE: A Term Fund At A Discount

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Term funds have a few topics making them different that I hope to clear up with today's overview. Term funds can benefit shareholders as NAV is realized one way or another.

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HIE invests in equity positions focused on generating dividends; it usually tilts towards energy weightings. The fund also utilizes an options writing strategy to generate additional gains to fund its distribution.

HIE: Attractively Discounted Fund Helped By Energy Exposure

Kingston, NY, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The Board of Trustees of the Miller/Howard High Income Equity Fund (NYSE: HIE) (the “Fund”) declares cash distributions of $0.051 per share for each of October, November, and December 2022. This is a 6.25% increase from the previous monthly distribution of $0.048 per share.

MILLER/HOWARD HIGH INCOME EQUITY FUND ANNOUNCES 6.25% DISTRIBUTION INCREASE

HIE released their latest semi-annual report, and it appears to be business as usual. The fund's heaviest focus on energy was making the fund hold up well through 2022, but even energy has now declined meaningfully.

HIE: Attractively Valued With A ~6% Distribution Yield

HIE continues to offer investors a deep discount on a term fund that is getting closer to its termination date. The fund holds heavy exposure to energy names, which have been performing well recently, but are cyclical which meant poor historical performance for the fund.

HIE: Term Fund, Activist Investors, Insider Buying, All Make This A Buy

HIE is an attractively priced limited-term fund that anticipates liquidating in 2024.

HIE: Attractively Valued And Paying Investors Monthly Distributions

HIE continues to trade at a persistent discount since its distribution cut last year. That distribution cut is exactly what opened up the opportunity in the first place.

HIE: Discounted Term Fund With High Activist Ownership

HIE's latest semi-annual report gives us an update on distribution coverage. The fund has large institutional ownership from Saba and RiverNorth.

HIE: Termination Set For 2024 With Opportunity Left

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The major equity indices had their worst week since early January - mostly on inflation concerns and a hawkish FOMC that signaled an increase in rates may come sooner than expected. On Friday, stocks took another leg lower after St. Louis Fed President James Bullard said that he expects the Fed's first rate hike in late 2022.

CEF Weekly Commentary | June 20, 2021

At the Income Lab, we recently added more to our HIE position. HIE remains attractively valued with a discount heading into the final few years of its term structure where it is set to liquidate in 2024.

HIE: Narrowing Discount, Still Opportunity Here

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For the broader indexes, December continued along its upward momentum. Overall, the market seems to be quite lofty at these levels, so keeping a cash allocation could be appropriate.

8 Closed-End Fund Buys In December To Finish Out A Volatile Year

HIE is set to liquidate on November 24th, 2024. That means any discount should gradually narrow as we approach closer to this date.

HIE: Attractive Discount Present On This Term Fund

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Water doesn't typically get the same focus that I put on other utilities like electric and gas companies. Though, that doesn't mean that investing in water ETFs doesn't have its own merits; it certainly does as global demand rises, yet supply doesn't go up.

News for Miller/Howard High Income Equity Fund ETF (HIE)