Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Saba Capital Management, L.P. Purchases 24,037 Shares

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. acquired 24,037 shares of Pioneer Municipal High Income Advantage Fund stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $7.82 per share, with a total value of $187,969.34. Following the transaction, the insider now owns 2,701,710 shares of the company’s stock, valued at approximately $21,127,372.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 Wednesday, April 24th, Saba Capital Management, L.P. purchased 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased 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 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

Shares of NYSE MAV opened at $7.98 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a 12-month low of $6.37 and a 12-month high of $8.19. The firm has a 50 day moving average of $8.01 and a 200 day moving average of $7.75.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th were given a dividend of $0.0325 per share. This is an increase from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03. The ex-dividend date was Thursday, April 18th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.89%.

Institutional Investors Weigh In On Pioneer Municipal High Income Advantage Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Saba Capital Management L.P. grew its holdings in Pioneer Municipal High Income Advantage Fund by 307.0% during the third quarter. Saba Capital Management L.P. now owns 1,946,700 shares of the company’s stock valued at $13,101,000 after purchasing an additional 1,468,441 shares during the period. Gridiron Partners LLC purchased a new position in shares of Pioneer Municipal High Income Advantage Fund during the 4th quarter valued at about $1,354,000. AQR Arbitrage LLC increased its holdings in Pioneer Municipal High Income Advantage Fund by 79.5% in the 3rd quarter. AQR Arbitrage LLC now owns 294,280 shares of the company’s stock worth $1,981,000 after acquiring an additional 130,373 shares in the last quarter. Advisor Partners II LLC purchased a new stake in Pioneer Municipal High Income Advantage Fund in the 3rd quarter worth approximately $630,000. Finally, Robinson Capital Management LLC raised its stake in Pioneer Municipal High Income Advantage Fund by 16.1% during the 4th quarter. Robinson Capital Management LLC now owns 413,907 shares of the company’s stock worth $3,320,000 after acquiring an additional 57,313 shares during the period.

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.