Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Saba Capital Management, L.P. Purchases 13,162 Shares

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. acquired 13,162 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $7.96 per share, with a total value of $104,769.52. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares 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. bought 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. acquired 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was 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 shares were acquired at an average cost of $8.12 per share, for a total transaction of $149,269.96.

Pioneer Municipal High Income Advantage Fund Stock Up 0.9 %

Shares of NYSE MAV opened at $8.04 on Wednesday. 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 business has a fifty day moving average price of $8.01 and a two-hundred day moving average price of $7.79.

Pioneer Municipal High Income Advantage Fund Dividend Announcement

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

Institutional Trading of Pioneer Municipal High Income Advantage Fund

A number of institutional investors and hedge funds have recently made changes to their positions in MAV. Saba Capital Management L.P. boosted its holdings in shares of Pioneer Municipal High Income Advantage Fund by 307.0% in the 3rd 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 in the last quarter. Gridiron Partners LLC bought a new position in Pioneer Municipal High Income Advantage Fund in the fourth quarter valued at about $1,354,000. AQR Arbitrage LLC raised its stake in Pioneer Municipal High Income Advantage Fund by 79.5% during the third 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 acquired a new stake in shares of Pioneer Municipal High Income Advantage Fund in the 3rd quarter valued at approximately $630,000. Finally, Robinson Capital Management LLC grew its holdings in shares of 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 valued at $3,320,000 after purchasing an additional 57,313 shares during 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.