Insider Buying: Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Buys 7,534 Shares of Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. purchased 7,534 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was acquired at an average price of $7.82 per share, with a total value of $58,915.88. Following the purchase, the insider now owns 2,638,717 shares of the company’s stock, valued at $20,634,766.94. The purchase was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, March 19th, Saba Capital Management, L.P. bought 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought at an average cost of $8.12 per share, with a total value of $149,269.96.
• On Tuesday, January 30th, Saba Capital Management, L.P. bought 17,454 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average price of $7.85 per share, for a total transaction of $137,013.90.

Pioneer Municipal High Income Advantage Fund Price Performance

Shares of Pioneer Municipal High Income Advantage Fund stock traded up $0.02 during trading on Friday, hitting $7.83. 25,311 shares of the stock were exchanged, compared to its average volume of 57,505. The firm’s 50-day moving average price is $8.04 and its 200 day moving average price is $7.71. Pioneer Municipal High Income Advantage Fund, Inc. has a 12-month low of $6.37 and a 12-month high of $8.20.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be given a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Thursday, April 18th. This is an increase from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC increased its position in Pioneer Municipal High Income Advantage Fund by 224.1% during the first quarter. Blue Bell Private Wealth Management LLC now owns 27,545 shares of the company’s stock worth $224,000 after buying 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 first quarter. Kingswood Wealth Advisors LLC now owns 46,725 shares of the company’s stock worth $381,000 after acquiring an additional 11,810 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Pioneer Municipal High Income Advantage Fund in the 4th quarter valued at $72,000. Gridiron Partners LLC purchased a new stake in Pioneer Municipal High Income Advantage Fund in the 4th quarter valued at $1,354,000. Finally, Catalytic Wealth RIA LLC acquired a new stake in Pioneer Municipal High Income Advantage Fund during the 4th quarter worth $135,000.

Pioneer Municipal High Income Advantage Fund Company Profile

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.