Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Saba Capital Management, L.P. Purchases 20,874 Shares

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. purchased 20,874 shares of Pioneer Municipal High Income Advantage Fund stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $8.12 per share, for a total transaction of $169,496.88. Following the transaction, the insider now directly owns 2,821,139 shares of the company’s stock, valued at approximately $22,907,648.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 2,117 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average cost of $8.05 per share, with a total value of $17,041.85.
• On Wednesday, May 15th, Saba Capital Management, L.P. bought 49,514 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average price of $8.08 per share, with a total value of $400,073.12.
• On Friday, May 3rd, Saba Capital Management, L.P. purchased 13,162 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average cost of $7.96 per share, for a total transaction of $104,769.52.
• On Wednesday, May 1st, Saba Capital Management, L.P. acquired 24,037 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 $187,969.34.
• On Wednesday, April 24th, Saba Capital Management, L.P. bought 7,534 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 $58,915.88.
• On Tuesday, March 19th, Saba Capital Management, L.P. purchased 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 Trading Down 0.4 %

MAV opened at $8.02 on Friday. The company’s 50-day moving average price is $8.00 and its 200 day moving average price is $7.90. 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.

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 given a dividend of $0.0325 per share. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, May 16th.

Institutional Trading of Pioneer Municipal High Income Advantage Fund

Several hedge funds have recently made changes to their positions in the stock. Saba Capital Management L.P. increased its position in Pioneer Municipal High Income Advantage Fund by 307.0% in the third quarter. Saba Capital Management L.P. now owns 1,946,700 shares of the company’s stock worth $13,101,000 after buying an additional 1,468,441 shares during the period. Gridiron Partners LLC acquired a new stake in shares of Pioneer Municipal High Income Advantage Fund in the 4th quarter worth about $1,354,000. Whitebox Advisors LLC bought a new stake in Pioneer Municipal High Income Advantage Fund in the 1st quarter valued at about $1,143,000. AQR Arbitrage LLC boosted its stake in Pioneer Municipal High Income Advantage Fund by 79.5% during the 3rd quarter. AQR Arbitrage LLC now owns 294,280 shares of the company’s stock valued at $1,981,000 after purchasing an additional 130,373 shares during the period. Finally, City of London Investment Management Co. Ltd. grew its position in Pioneer Municipal High Income Advantage Fund by 106.7% in the 1st quarter. City of London Investment Management Co. Ltd. now owns 193,683 shares of the company’s stock worth $1,579,000 after purchasing an additional 99,963 shares during the last quarter.

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.