Insider Buying: 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. purchased 13,162 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $7.96 per share, for a total transaction of $104,769.52. Following the transaction, the insider now owns 2,750,751 shares in the company, valued at approximately $21,895,977.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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, May 1st, Saba Capital Management, L.P. acquired 24,037 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was bought at an average cost of $7.82 per share, with a total value of $187,969.34.
• On Wednesday, April 24th, Saba Capital Management, L.P. purchased 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought 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. acquired 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were 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

Pioneer Municipal High Income Advantage Fund stock opened at $8.08 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $8.19. The firm’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $7.80.

Pioneer Municipal High Income Advantage Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.0325 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.83%.

Institutional Trading of Pioneer Municipal High Income Advantage Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates increased its position in shares of Pioneer Municipal High Income Advantage Fund by 2.7% during the 3rd quarter. Raymond James & Associates now owns 97,347 shares of the company’s stock valued at $655,000 after purchasing an additional 2,605 shares during the last quarter. Bank of New York Mellon Corp raised its position in Pioneer Municipal High Income Advantage Fund by 54.3% in the third quarter. Bank of New York Mellon Corp now owns 55,299 shares of the company’s stock worth $372,000 after acquiring an additional 19,449 shares during the period. Advisor Partners II LLC bought a new stake in Pioneer Municipal High Income Advantage Fund in the third quarter worth about $630,000. Park Avenue Securities LLC boosted its stake in Pioneer Municipal High Income Advantage Fund by 6.2% in the third quarter. Park Avenue Securities LLC now owns 114,558 shares of the company’s stock valued at $771,000 after acquiring an additional 6,675 shares during the last quarter. Finally, Ackerman Capital Advisors LLC purchased a new stake in shares of Pioneer Municipal High Income Advantage Fund during the 3rd quarter worth approximately $228,000.

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.