Saba Capital Management, L.P. Buys 24,037 Shares of Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. bought 24,037 shares of Pioneer Municipal High Income Advantage Fund stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average price of $7.82 per share, with a total value of $187,969.34. Following the purchase, the insider now directly owns 2,701,710 shares of the company’s stock, valued at $21,127,372.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $7.82 per share, with a total value of $58,915.88.
• On Tuesday, March 19th, Saba Capital Management, L.P. bought 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were acquired at an average cost of $8.12 per share, for a total transaction of $149,269.96.

Pioneer Municipal High Income Advantage Fund Stock Up 0.8 %

Pioneer Municipal High Income Advantage Fund stock opened at $7.98 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a one year low of $6.37 and a one year high of $8.19. The business has a fifty day moving average price of $8.01 and a 200-day moving average price of $7.75.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th were paid a $0.0325 dividend. The ex-dividend date was Thursday, April 18th. This represents a $0.39 annualized dividend and a yield of 4.89%. This is an increase from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MAV. Riverbridge Partners LLC boosted its position in shares of Pioneer Municipal High Income Advantage Fund by 3.1% in the first quarter. Riverbridge Partners LLC now owns 138,414 shares of the company’s stock valued at $1,128,000 after acquiring an additional 4,223 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Pioneer Municipal High Income Advantage Fund by 224.1% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 27,545 shares of the company’s stock valued at $224,000 after purchasing an additional 19,045 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Pioneer Municipal High Income Advantage Fund by 33.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 46,725 shares of the company’s stock valued at $381,000 after purchasing an additional 11,810 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Pioneer Municipal High Income Advantage Fund in the fourth quarter worth $72,000. Finally, Gridiron Partners LLC purchased a new stake in shares of Pioneer Municipal High Income Advantage Fund in the fourth quarter worth $1,354,000.

About Pioneer Municipal High Income Advantage Fund

Pioneer Municipal High Income Advantage Fund, Inc is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc The fund invests in the fixed income markets of the United States. It invests primarily in municipal bonds. The fund benchmarks the performance of its portfolio against the Barclays Capital High Yield Municipal Bond Index and the Barclays Capital Municipal Bond Index.