Miller/Howard High Income Equity Fund
HIE
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- Miller/Howard High Income Equity Fund (NYSE: HIE) is a closed-end, diversified management investment company that seeks high current income, with a secondary objective of long-term capital appreciation. The Fund invests primarily in high dividend-yielding equity securities of U.S. and non-U.S. companies traded on U.S. exchanges, including common stocks, preferred stocks, convertible securities, warrants, depository receipts, and equity interests in trusts and other entities; it may allocate up to 25% of total assets to master limited partnerships (MLPs); and it employs fundamental and technical analysis with a bottom-up stock-picking approach, emphasizing business models, balance sheet strength, cash flow reliability, management quality, and sector conditions across diversified industries such as oil and gas extraction, insurance, natural gas transmission, real estate investment trusts, and petroleum refining. Managed by Miller/Howard Investments, Inc., the Fund targets growth-oriented, high dividend-paying stocks and utilizes options writing strategies to enhance income generation. Founded in 2014 and headquartered at 45 Pine Grove Avenue, Kingston, New York, the Fund operated for its planned 10-year term, serving retail and institutional investors seeking monthly distributions through exposure to financially strong, dividend-growing companies. In a major operational change, the Fund completed its liquidation on November 22, 2024, distributing $12.63 per share based on its final net asset value, following cumulative monthly distributions of $9.951 per share over its lifetime; trading on the NYSE was suspended after November 20, 2024, with no November distribution declared and the portfolio transitioned to cash equivalents prior to termination. This action aligned with the Fund's original term limit as outlined in its prospectus, concluding all activities without reported acquisitions, partnerships, funding rounds, or new product launches in the preceding years.