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

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. acquired 13,162 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $7.96 per share, with a total value of $104,769.52. Following the completion of the purchase, the insider now owns 2,750,751 shares of the company’s stock, valued at approximately $21,895,977.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were purchased 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. acquired 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average cost 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, with a total value of $149,269.96.

Pioneer Municipal High Income Advantage Fund Stock Up 0.7 %

Shares of NYSE:MAV opened at $8.10 on Thursday. The company has a 50-day moving average price of $8.01 and a 200-day moving average price of $7.79. Pioneer Municipal High Income Advantage Fund, Inc. has a 12 month low of $6.37 and a 12 month 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. Investors of record on Friday, May 17th will be given a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Thursday, May 16th.

Hedge Funds Weigh In On Pioneer Municipal High Income Advantage Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC purchased a new stake in Pioneer Municipal High Income Advantage Fund in the fourth quarter worth about $68,000. PNC Financial Services Group Inc. purchased a new stake in Pioneer Municipal High Income Advantage Fund in the fourth quarter worth about $72,000. Journey Strategic Wealth LLC grew its holdings 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 worth $87,000 after purchasing an additional 2,000 shares during the period. Atlas Wealth LLC purchased a new stake in Pioneer Municipal High Income Advantage Fund in the third quarter worth about $122,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Pioneer Municipal High Income Advantage Fund in the third quarter worth about $129,000.

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.