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. acquired 24,037 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average cost of $7.82 per share, for a total transaction of $187,969.34. Following the completion of the purchase, the insider now directly owns 2,701,710 shares in the company, valued at approximately $21,127,372.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions 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 purchased at an average cost of $7.82 per share, for a total transaction of $58,915.88.
• On Tuesday, March 19th, Saba Capital Management, L.P. acquired 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average cost of $8.12 per share, for a total transaction of $149,269.96.

Pioneer Municipal High Income Advantage Fund Stock Performance

MAV traded up $0.07 during trading on Thursday, hitting $7.91. The stock had a trading volume of 78,514 shares, compared to its average volume of 57,777. The company’s 50-day moving average price is $8.01 and its 200 day moving average price is $7.74. Pioneer Municipal High Income Advantage Fund, Inc. has a twelve month low of $6.37 and a twelve month high of $8.19.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 19th were given a dividend of $0.0325 per share. This represents a $0.39 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Thursday, April 18th. This is an increase from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03.

Institutional Trading of Pioneer Municipal High Income Advantage Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Journey Strategic Wealth LLC increased its position in Pioneer Municipal High Income Advantage Fund by 18.2% during the 3rd quarter. Journey Strategic Wealth LLC now owns 13,000 shares of the company’s stock worth $87,000 after purchasing an additional 2,000 shares in the last quarter. Camelot Portfolios LLC grew its position in Pioneer Municipal High Income Advantage Fund by 13.3% in the fourth quarter. Camelot Portfolios LLC now owns 17,000 shares of the company’s stock valued at $136,000 after acquiring an additional 2,000 shares in the last quarter. Raymond James & Associates grew its position in Pioneer Municipal High Income Advantage Fund by 2.7% in the third quarter. Raymond James & Associates now owns 97,347 shares of the company’s stock valued at $655,000 after acquiring an additional 2,605 shares in the last quarter. Riverbridge Partners LLC grew its position in 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 in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in Pioneer Municipal High Income Advantage Fund by 46.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the company’s stock valued at $163,000 after acquiring an additional 6,470 shares in the last quarter.

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.