mhisoi.htm

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
    OF REGISTERED MANAGEMENT INVESTMENT COMPANY



  Investment Company Act file number 811-21321


                        Pioneer Municipal High Income Trust
               (Exact name of registrant as specified in charter)


                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)


            Terrence J. Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)


Registrant's telephone number, including area code:  (617) 742-7825


Date of fiscal year end:  April 30

Date of reporting period:  July 31, 2016

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.


<PAGE>
ITEM 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in
ss. 210.12-12  12-14 of Regulation S-X [17 CFR 210.12-12  12-14]. The
schedules need not be audited.





   
Pioneer Municipal
   
High Income Trust
     
     
     
     
     
     
     
   
NQ | July 31, 2016
     
     
   
Ticker Symbol: MHI


 
 



 
Principal
Amount
USD ($)
   
Value
         
   
TAX EXEMPT OBLIGATIONS122.8% of Net Assets (a)
   
   
Alabama - 1.4%
   
 
  4,500,000 
Huntsville-Redstone Village Special Care Facilities Financing Authority, Redstone Village Project, 5.5%, 1/1/43
 
$ 4,517,910 
   
Arizona - 0.0%
   
 
  24,000 
County of Pima, AZ, Industrial Development Authority, Arizona Charter Schools Project, Series C, 6.75%, 7/1/31
 
$ 24,179 
   
California - 9.8%
   
 
  10,000,000(b)
California County Tobacco Securitization Agency, Capital Appreciation, Stanislaus County Subordinated, Series A, 6/1/46
 
$ 1,413,700 
 
  1,450,000 
California Enterprise Development Authority, Sunpower Corp.,
8.5%, 4/1/31
 
  1,662,802 
 
  650,000 
California Municipal Finance Authority, Santa Rosa Academy Project, Series A, 5.75%, 7/1/30
 
  725,751 
 
  5,000,000 
California Pollution Control Financing Authority, 5.0%, 7/1/37 (144A)
 
  5,156,750 
 
  1,740,000 
California School Finance Authority, Classical Academies Project,
Series A, 7.375%, 10/1/43
 
  2,125,845 
 
  1,400,000 
California Statewide Communities Development Authority, Lancer Plaza Project, 5.625%, 11/1/33
 
  1,507,240 
 
  568,006(c)
California Statewide Communities Development Authority, Microgy Holdings Project, 9.0%, 12/1/38
 
  6 
 
  7,885,000(d) 
Lehman Municipal Trust Receipts, RIB, 12.36%, 11/1/39 (144A)
(AGM Insured)
 
  9,635,470 
 
  2,000,000(e) 
Los Angeles Community College District, Series G, 4.0%, 8/1/39
 
  2,242,640 
 
  1,000,000 
River Islands Public Financing Authority, Community Facilities,
5.5%, 9/1/45
 
  1,111,090 
 
  2,000,000 
Tobacco Securitization Authority of Northern California, Asset-Backed, Series A-1, 5.375%, 6/1/38
 
  1,999,800 
 
  3,000,000 
Tobacco Securitization Authority of Southern California, Series A-1,
5.0%, 6/1/37
 
  3,000,150 
       
$ 30,581,244 
   
Colorado - 1.2%
   
 
  1,500,000 
Colorado Educational & Cultural Facilities Authority, Rocky Mountain Classical Academy Project, 8.0%, 9/1/43
 
$ 1,604,130 
 
  2,000,000 
Colorado Health Facilities Authority, Valley View Association Project, 5.25%, 5/15/42
 
  2,063,320 
       
$ 3,667,450 
   
Connecticut - 2.9%
   
 
  2,235,000 
Mohegan Tribal Finance Authority, 7.0%, 2/1/45 (144A)
 
$ 2,263,675 
 
  5,000,000(e) 
State of Connecticut, Series E, 4.0%, 9/1/30
 
  5,588,800 
 
  1,000,000 
Town of Hamden, CT, Whitney Center Project, Series A, 7.75%, 1/1/43
 
  1,056,980 
       
$ 8,909,455 
   
District of Columbia - 5.0%
   
 
  25,000,000(b)
District of Columbia Tobacco Settlement Financing Corp., Capital Appreciation, Asset-Backed, Series A, 6/15/46
 
$ 3,344,750 
 
  4,885,000 
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.5%, 5/15/33
 
  6,029,409 
 
  6,000,000 
District of Columbia Tobacco Settlement Financing Corp., Asset-Backed, 6.75%, 5/15/40
 
  6,216,060 
       
$ 15,590,219 
   
Florida - 4.8%
   
 
  1,500,000 
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/41
 
$ 1,799,190 
 
  1,500,000 
Alachua County Health Facilities Authority, Terraces Bonita Springs Project, Series A, 8.125%, 11/15/46
 
  1,795,845 
 
  2,260,000(c)
County of Liberty, FL, Twin Oaks Project, 8.25%, 7/1/28
 
  335,610 
 
  2,500,000 
County of Miami-Dade, FL, Aviation Revenue, Series B, 5.5%, 10/1/41
 
  2,815,250 
 
  5,000,000 
Florida's Turnpike Enterprise, Department of Transportation, Series A, 4.0%, 7/1/34
 
  5,551,100 
 
  1,000,000(f)
Hillsborough County Industrial Development Authority, Various Health Facilities, 8.0%, 8/15/32
 
  1,228,190 
 
  2,250,000(c)
St. Johns County Industrial Development Authority, Glenmoor Project, Series A, 1.344%, 1/1/49
 
  1,529,955 
 
  832,581(c)
St. Johns County Industrial Development Authority, Glenmoor Project, Series B, 2.5%, 1/1/49
 
  8 
       
$ 15,055,148 
   
Georgia - 2.5%
   
 
  2,500,000 
Clayton County Development Authority, Delta Air Lines, Series A,
8.75%, 6/1/29
 
$ 3,077,400 
 
  4,000,000 
Private Colleges & Universities Authority, Emory University, Series A, 5.0%, 10/1/43
 
  4,774,360 
       
$ 7,851,760 

 
Principal
Amount
USD ($)
   
Value
   
Idaho - 1.6%
   
 
  5,000,000 
Power County Industrial Development Corp., FMC Corp. Project,
6.45%, 8/1/32
 
$ 5,012,050 
   
Illinois - 14.0%
   
 
  2,087,000(d) 
Illinois Finance Authority, Clare Oaks Project, Series B, 4.0%, 11/15/52
 
$ 1,468,768 
 
  1,305,000(b)
Illinois Finance Authority, Clare Oaks Project, Series C-1, 11/15/52
 
  46,536 
 
  261,000(b) 
Illinois Finance Authority, Clare Oaks Project, Series C-2, 11/15/52
 
  71,162 
 
  261,000(b) 
Illinois Finance Authority, Clare Oaks Project, Series C-3, 11/15/52
 
  44,769 
 
  2,000,000 
Illinois Finance Authority, Greenfields of Geneva Project, Series A, 8.125%, 2/15/40
 
  1,644,600 
 
  2,500,000 
Illinois Finance Authority, Greenfields of Geneva Project, Series A,
8.25%, 2/15/46
 
  2,056,725 
 
  2,000,000 
Illinois Finance Authority, Northwestern Memorial Hospital, Series A, 6.0%, 8/15/39
 
  2,308,900 
 
  2,500,000 
Illinois Finance Authority, Roosevelt University Project, 6.5%, 4/1/39
 
  2,769,150 
 
  3,865,000 
Illinois Finance Authority, Swedish Covenant, Series A, 6.0%, 8/15/38
 
  4,349,053 
 
  1,700,000 
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 7.625%, 5/15/25
 
  1,981,554 
 
  600,000 
Illinois Finance Authority, The Admiral at the Lake Project, Series A, 7.75%, 5/15/30
 
  699,696 
 
  2,000,000 
Illinois Finance Authority, The Admiral at the Lake Project, Series A,
8.0%, 5/15/40
 
  2,334,460 
 
  3,200,000 
Illinois Finance Authority, The Admiral at the Lake Project, Series A,
8.0%, 5/15/46
 
  3,726,432 
 
  1,485,000(b)(g)
Metropolitan Pier & Exposition Authority, McCormick Place, Series B, 6/15/22 (NATL Insured)
 
  1,749,211 
 
  15,395,000(b)
Metropolitan Pier & Exposition Authority, McCormick Place, Series B, 6/15/22 (NATL Insured)
 
  17,408,512 
 
  1,125,000 
Southwestern Illinois Development Authority, Village of Sauget Project, 5.625%, 11/1/26
 
  1,062,551 
       
$ 43,722,079 
   
Indiana - 1.7%
   
 
  250,000 
City of Carmel, IN, Barrington Carmel Project, Series A, 7.0%, 11/15/32
 
$ 285,525 
 
  750,000 
City of Carmel, IN, Barrington Carmel Project, Series A,
7.125%, 11/15/42
 
  857,250 
 
  500,000 
City of Carmel, IN, Barrington Carmel Project, Series A,
7.125%, 11/15/47
 
  570,030 
 
  3,570,000 
Vigo County Hospital Authority, Union Hospital, Inc., 5.8%, 9/1/47 (144A)
 
  3,668,425 
       
$ 5,381,230 
   
Kentucky - 1.9%
   
 
  5,000,000 
Kentucky Economic Development Finance Authority, Owensboro Medical Health System, Series A, 6.375%, 6/1/40
 
$ 5,774,250 
   
Louisiana - 3.0%
   
 
  2,260,000 
Jefferson Parish Hospital Service District No. 2, East Jefferson General Hospital, 6.375%, 7/1/41
 
$ 2,566,027 
 
  1,500,000 
Louisiana Local Government Environmental Facilities & Community Development Authority, Westlake Chemical Corp. Project,
6.75%, 11/1/32
 
  1,605,390 
 
  1,380,000(f)
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series A, 5.5%, 5/15/47
 
  1,434,745 
 
  3,620,000
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series A, 5.5%, 5/15/47
 
  3,736,636 
       
$ 9,342,798 
   
Maine - 2.3%
   
 
  1,500,000 
Maine Health & Higher Educational Facilities Authority, Maine General Medical Center, 7.5%, 7/1/32
 
$ 1,801,380 
 
  4,480,000 
Maine Turnpike Authority, Series A, 5.0%, 7/1/42
 
  5,273,632 
       
$ 7,075,012 
   
Maryland - 0.5%
   
 
  1,480,000 
Maryland Health & Higher Educational Facilities Authority, City Neighbors, Series A, 6.75%, 7/1/44
 
$ 1,650,511 
   
Massachusetts - 7.0%
   
 
  7,000,000(b)
Massachusetts Bay Transportation Authority, Series A, 7/1/28
 
$ 5,354,860 
 
  987,910 
Massachusetts Development Finance Agency, Linden Ponds, Inc.,
Series A-1, 5.5%, 11/15/46
 
  958,223 
 
  7,100,000 
Massachusetts Development Finance Agency, WGBH Foundation,
Series A, 5.75%, 1/1/42 (AMBAC Insured)
 
  10,426,634 
 
  445,000 
Massachusetts Educational Financing Authority, Series I, 6.0%, 1/1/28
 
  474,837 
 
  3,100,000 
Massachusetts Health & Educational Facilities Authority, Massachusetts Institute of Technology, Series K, 5.5%, 7/1/32
 
  4,559,883 
       
$ 21,774,437 
         
         
         
         
         
         
 
Principal
Amount
USD ($)
   
Value
   
Michigan - 3.7%
   
 
  895,000(c) 
Doctor Charles Drew Academy, Certificate of Participation,
5.7%, 11/1/36
 
$ 178,910 
 
  2,000,000 
Kent Hospital Finance Authority, Metropolitan Hospital Project, Series A, 6.25%, 7/1/40
 
  2,005,480 
 
  2,640,000 
Michigan State University, Series A, 5.0%, 8/15/41
 
  3,167,551 
 
  6,100,000 
Michigan Tobacco Settlement Finance Authority, Series A, 6.0%, 6/1/48
 
  6,141,907 
       
$ 11,493,848 
   
Minnesota - 0.7%
   
 
  2,000,000 
Bloomington Port Authority, Radisson Blu Mall of America,
9.0%, 12/1/35
 
$ 2,210,960 
   
Montana - 0.1%
   
 
  1,600,000(c)
Two Rivers Authority, Inc., 7.375%, 11/1/27
 
$ 191,888 
   
New Jersey - 2.0%
   
 
  3,000,000 
New Jersey Economic Development Authority, Continental Airlines, 5.25%, 9/15/29
 
$ 3,359,190 
 
  2,500,000 
New Jersey Economic Development Authority, Continental Airlines, 5.75%, 9/15/27
 
  2,869,900 
       
$ 6,229,090 
   
New Mexico - 1.5%
   
 
  1,500,000 
County of Otero, NM, Otero County Jail Project, 6.0%, 4/1/23
 
$ 1,532,775 
 
  2,960,000 
County of Otero, NM, Otero County Jail Project, 6.0%, 4/1/28
 
  3,013,576 
       
$ 4,546,351 
   
New York - 6.3%
   
 
  2,000,000 
Chautauqua County Capital Resource Corp., Women's Christian Association Project, Series A, 8.0%, 11/15/30
 
$ 2,020,680 
 
  2,000,000 
Hempstead Local Development Corp., Molloy College Project,
5.75%, 7/1/39
 
  2,221,780 
 
  1,000,000 
New York State Dormitory Authority, Orange Medical Center,
6.125%, 12/1/29
 
  1,091,360 
 
  7,500,000 
New York State Dormitory Authority, Series C, 5.0%, 3/15/39
 
  9,072,450 
 
  1,500,000 
New York State Dormitory Authority, Trustees of Columbia University, 5.0%, 10/1/45
 
  2,281,515 
 
  2,538,540 
Westchester County Healthcare Corp., Series A, 5.0%, 11/1/44
 
  2,955,444 
       
$ 19,643,229 
   
North Carolina - 0.6%
   
 
  1,835,000(d) 
Charlotte-Mecklenburg Hospital Authority, Series C, 0.38%, 1/15/26
 
$ 1,835,000 
   
North Dakota - 1.0%
   
 
  2,525,000(f)
County of Burleigh, ND, St. Alexius Medical Center, 5.0%, 7/1/38
 
$ 3,091,357 
   
Ohio - 4.9%
   
 
  2,500,000 
Buckeye Tobacco Settlement Financing Authority, Asset-Backed,
Series A-2, 5.875%, 6/1/47
 
$ 2,481,100 
 
  1,700,000 
Buckeye Tobacco Settlement Financing Authority, Asset-Backed,
Series A-2, 6.0%, 6/1/42
 
  1,699,847 
 
  6,000,000 
Buckeye Tobacco Settlement Financing Authority, Asset-Backed,
Series A-2, 6.5%, 6/1/47
 
  6,133,500 
 
  2,000,000(d)
Ohio Air Quality Development Authority, FirstEnergy Generation Corp. Project, 3.1%, 3/1/23
 
  1,990,120 
 
  2,500,000(e) 
State of Ohio, Common Schools, Series B, 5.0%, 6/15/29
 
  3,024,500 
       
$ 15,329,067 
   
Oregon - 2.0%
   
 
  5,190,000 
Oregon Health & Science University, Series E, 5.0%, 7/1/32
 
$ 6,192,916 
   
Pennsylvania - 6.1%
   
 
  1,550,000 
Allegheny County Hospital Development Authority, South Hills Health, Series A, 5.125%, 5/1/25
 
$ 1,557,006 
 
  1,280,000(c)
Langhorne Manor Borough Higher Education Authority, Lower Bucks Hospital, 7.35%, 7/1/22
 
  316,787 
 
  5,000,000 
Pennsylvania Economic Development Financing Authority, USG Corp. Project, 6.0%, 6/1/31
 
  5,002,100 
 
  500,000 
Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A, 6.625%, 6/1/50
 
  519,060 
 
  2,000,000 
Philadelphia Authority for Industrial Development, Nueva Esperanze, Inc., 8.2%, 12/1/43
 
  2,339,380 
 
  1,000,000 
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.5%, 6/15/33 (144A)
 
  1,068,540 
 
  2,000,000 
Philadelphia Authority for Industrial Development, Performing Arts Charter School Project, 6.75%, 6/15/43 (144A)
 
  2,145,120 
 
  5,900,000 
Philadelphia Hospitals & Higher Education Facilities Authority, Temple University Health System, Series A, 5.0%, 7/1/34
 
  6,001,834 
       
$ 18,949,827 
         
         
         
         
 
Principal
Amount
USD ($)
   
Value
   
Puerto Rico - 1.3%
   
 
  6,255,000(c)(e)
Commonwealth of Puerto Rico, Series A, 8.0%, 7/1/35
 
$ 4,100,966 
   
Rhode Island - 1.4%
   
 
  5,900,000(c)
Central Falls Detention Facility Corp., 7.25%, 7/15/35
 
$ 1,464,852 
 
  1,500,000 
Rhode Island Health & Educational Building Corp., Tockwatten Home Issue, 8.375%, 1/1/46
 
  1,774,845 
 
  10,000,000(b)
Tobacco Settlement Financing Corp., Asset-Backed, Series A, 6/1/52
 
  1,040,400 
       
$ 4,280,097 
   
Tennessee - 1.5%
   
 
  4,600,000 
Sullivan County Health, Educational & Housing Facilities Board, Wellmont Health System Project, Series C, 5.25%, 9/1/36
 
$ 4,616,928 
   
Texas - 13.5%
   
 
  1,000,000 
Arlington Higher Education Finance Corp., Universal Academy, Series A, 7.0%, 3/1/34
 
$ 1,065,630 
 
  2,500,000(f)
Central Texas Regional Mobility Authority, Sub Lien, 6.75%, 1/1/41
 
  3,132,625 
 
  2,490,000(e) 
County of Harris, TX, Series A, 5.0%, 10/1/26
 
  3,211,951 
 
  5,000,000(e) 
Goose Creek Consolidated Independent School District, Series C,
4.0%, 2/15/26 (PSF-GTD Insured)
 
  5,834,150 
 
  725,078(c)
Gulf Coast Industrial Development Authority, Microgy Holdings Project, 7.0%, 12/1/36
 
  7 
 
  1,500,000(d)
Harris County Health Facilities Development Corp., The Methodist Hospital System, Series A-1, 0.38%, 12/1/41
 
  1,500,000 
 
  3,785,000 
North Texas Tollway Authority, Series A, 5.0%, 1/1/35
 
  4,521,788 
 
  10,000,000(f)
North Texas Tollway Authority, Series F, 5.75%, 1/1/33
 
  10,728,200 
 
  1,500,000 
Red River Health Facilities Development Corp., MRC Crestview, Series A, 8.0%, 11/15/41
 
  1,759,380 
 
  3,960,000 
Sanger Industrial Development Corp., Texas Pellets Project, Series B, 8.0%, 7/1/38
 
  3,445,834 
 
  1,000,000 
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 8.125%, 11/15/39
 
  853,900 
 
  1,000,000 
Tarrant County Cultural Education Facilities Finance Corp., Mirador Project, Series A, 8.25%, 11/15/44
 
  854,150 
 
  2,000,000 
Tarrant County Cultural Education Facilities Finance Corp., MRC Crestview Project, 8.0%, 11/15/34
 
  2,300,700 
 
  2,500,000 
Travis County Health Facilities Development Corp., Longhorn Village Project, 7.125%, 1/1/46
 
  2,853,375 
       
$ 42,061,690 
   
Virginia - 1.5%
   
 
  4,000,000 
Upper Occoquan Sewage Authority, 4.0%, 7/1/41
 
$ 4,538,720 
   
Washington - 9.6%
   
 
  2,500,000(e)
King County School District No. 411 Issaquah, 4.0%, 12/1/31
(SCH BD GTY Insured)
 
$ 2,900,900 
 
  14,315,000(b)(e)
State of Washington, Motor Vehicle Sales Tax, Series C, 6/1/22
(NATL Insured)
 
  13,131,722 
 
  2,500,000 
University of Washington, Series B, 5.0%, 6/1/29
 
  3,144,400 
 
  3,795,000(f)
Washington State Health Care Facilities Authority, Fred Hutchinson Cancer Research Center, Series A, 6.0%, 1/1/33
 
  4,372,182 
 
  1,150,000 
Washington State Housing Finance Commission, Mirabella Project,
Series A, 6.75%, 10/1/47
 
  1,271,739 
 
  5,000,000 
Washington State Housing Finance Commission, Skyline at First Hill Project, Series A, 5.625%, 1/1/27
 
  5,043,800 
       
$ 29,864,743 
   
West Virginia - 0.6%
   
 
  2,000,000(c) 
City of Philippi, WV, Alderson-Broaddus College, Inc., Series A,
7.75%, 10/1/44
 
$ 1,200,040 
 
  725,000(c) 
West Virginia Hospital Finance Authority, Highland Hospital Group, 9.125%, 10/1/41
 
  677,723 
       
$ 1,877,763 
   
Wisconsin - 4.9%
   
 
  5,000,000 
Public Finance Authority, Glenridge Palmer Ranch, Series A,
8.25%, 6/1/46
 
$ 6,268,150 
 
  750,000 
Public Finance Authority, Roseman University Health Sciences Project, 5.875%, 4/1/45
 
  808,792 
 
  1,500,000 
Public Finance Authority, SearStone CCRC Project, Series A,
8.625%, 6/1/47 (144A)
 
  1,802,535 
 
  5,000,000 
Wisconsin Department of Transportation, Series A, 5.0%, 7/1/28
 
  6,266,450 
       
$ 15,145,927 
   
TOTAL TAX EXEMPT OBLIGATIONS
   
   
(Cost $348,741,343)
 
$ 382,130,099 
   
MUNICIPAL COLLATERALIZED DEBT OBLIGATION - 0.2% of Net Assets
   
 
  10,000,000(d)
Non-Profit Preferred Funding Trust I, Series E, 0.0%, 9/15/37 (144A)
 
$ 757,100 
   
TOTAL MUNICIPAL COLLATERALIZED DEBT OBLIGATION
   
   
(Cost $10,000,000)
 
$ 757,100 
           
           

 
Principal
Amount
USD ($)
   
Value
 
                                                    TEMPORARY CASH INVESTMENTS - 6.6% of Net Assets
   
TREASURY BILL - 6.6%
     
 
  20,500,000(b) 
U. S. Treasury Bill, 8/11/16  
 
$ 20,499,180 
   
   
TOTAL TEMPORARY CASH INVESTMENTS
       
   
(Cost $20,498,369)
 
$ 20,499,180 
   
   
TOTAL INVESTMENTS IN SECURITIES - 129.6%
       
   
(Cost $379,239,712) (h)
 
$ 403,386,379 
   
   
OTHER ASSETS AND LIABILITIES - 2.9%
 
$ 8,883,294 
   
   
PREFERRED SHARES AT REDEMPTION VALUE,
INCLUDING DIVIDENDS PAYABLE - (32.5)%
 
$ (101,010,608)
   
   
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS - 100.0%
 
$ 311,259,065 
   
   
           
(144A)
Security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At July 31, 2016, the value of these securities amounted to $26,497,615, or 8.5% of total net assets applicable to common shareowners.
RIB
Residual Interest Bond. The interest rate is subject to change periodically and inversely based upon prevailing market rates. The interest rate shown is the rate at July 31, 2016.
Amount rounds to less than 0.1%.
(a)
Consists of Revenue Bonds unless otherwise indicated.
(b)
Security issued with a zero coupon. Income is recognized through accretion of discount.
(c)
Security is in default.
(d)
The interest rate is subject to change periodically. The interest rate shown is the rate at July 31, 2016.
(e)
Represents a General Obligation Bond.
(f)
Prerefunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date.
(g)
Escrow to maturity.
(h)
At July 31, 2016, the net unrealized appreciation on investments based on cost for federal tax purposes of $372,134,226 was as follows:
   
 
Aggregate gross unrealized appreciation for all investments in which there
   
 
     is an excess of value over tax cost
 
$ 48,428,036 
 
Aggregate gross unrealized depreciation for all investments in which there
   
 
     is an excess of tax cost over value
 
  (17,175,883)
   
 
Net unrealized appreciation
$ 31,252,153 
 

For financial reporting purposes net unrealized appreciation on investments was $24,146,667 and cost of investments aggregated $379,239,712.
 

Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.
 
     Level 1 - quoted prices in active markets for identical securities.
     Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment
                    speeds, credit risks, etc.).
     Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining fair value of investments).
 
 
The following is a summary of the inputs used as of July 31, 2016, in valuing the Trust's investments.
 
 
 
Level 1
Level 2  
Level 3
Total
 
Tax Exempt Obligations
$ – 
$ 382,130,099 
$ – 
$ 382,130,099 
Municipal Collateralized Debt Obligation
 – 
 757,100 
 – 
 757,100 
Treasury Bill
 – 
 20,499,180 
 – 
 20,499,180 
Total
$ – 
$ 403,386,379 
$ – 
$ 403,386,379 


ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) Disclose any change in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. There were no significant changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: CERTIFICATIONS I, [identify the certifying individual], certify that: 1. I have reviewed this report on Form N-Q of [identify registrant]; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and 5. The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. Date: [Signature] [Title] Filed herewith. <PAGE> SIGNATURES [See General Instruction F] Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Pioneer Municipal High Income Trust By (Signature and Title)* /s/ Lisa M.Jones ----------------------- Lisa M.Jones, President and Chief Executive Officer Date September 28, 2016 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ Lisa M.Jones ----------------------- Lisa M.Jones, President and Chief Executive Officer Date September 28, 2016 By (Signature and Title)* /s/ Mark E. Bradley ----------------- Mark E. Bradley, Treasurer and Chief Accounting and Financial Officer Date September 28, 2016 * Print the name and title of each signing officer under his or her signature.