Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Acquires $104,769.52 in Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. bought 13,162 shares of Pioneer Municipal High Income Advantage Fund stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $7.96 per share, with a total value of $104,769.52. Following the acquisition, the insider now directly owns 2,750,751 shares of the company’s stock, valued at $21,895,977.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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, May 1st, Saba Capital Management, L.P. purchased 24,037 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were acquired at an average cost of $7.82 per share, for a total transaction of $187,969.34.
• On Wednesday, April 24th, Saba Capital Management, L.P. acquired 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were acquired at an average price 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 stock was acquired at an average price 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 on Tuesday, reaching $8.04. 106,662 shares of the company traded hands, compared to its average volume of 58,052. The stock’s 50 day moving average price is $8.01 and its 200-day moving average price is $7.78. Pioneer Municipal High Income Advantage Fund, Inc. has a 52-week low of $6.37 and a 52-week high of $8.19.

Pioneer Municipal High Income Advantage Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Thursday, May 16th.

Hedge Funds Weigh In On Pioneer Municipal High Income Advantage Fund

Hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC purchased a new position in Pioneer Municipal High Income Advantage Fund in the fourth quarter valued at about $68,000. PNC Financial Services Group Inc. acquired a new position in Pioneer Municipal High Income Advantage Fund in the fourth quarter worth approximately $72,000. Journey Strategic Wealth LLC lifted its stake in Pioneer Municipal High Income Advantage Fund by 18.2% in the third quarter. Journey Strategic Wealth LLC now owns 13,000 shares of the company’s stock valued at $87,000 after acquiring an additional 2,000 shares during the last quarter. Catalytic Wealth RIA LLC acquired a new stake in Pioneer Municipal High Income Advantage Fund in the fourth quarter valued at approximately $135,000. Finally, 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 worth $136,000 after acquiring an additional 2,000 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.