Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Saba Capital Management, L.P. Buys 7,534 Shares of Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. bought 7,534 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average price of $7.82 per share, with a total value of $58,915.88. Following the transaction, the insider now owns 2,638,717 shares of the company’s stock, valued at $20,634,766.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own more than 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 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, with a total value of $149,269.96.
• On Tuesday, January 30th, Saba Capital Management, L.P. acquired 17,454 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average cost of $7.85 per share, for a total transaction of $137,013.90.

Pioneer Municipal High Income Advantage Fund Stock Performance

Shares of MAV stock opened at $7.84 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a 52 week low of $6.37 and a 52 week high of $8.20. The company’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $7.72.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be given a $0.0325 dividend. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03.

Institutional Investors Weigh In On Pioneer Municipal High Income Advantage Fund

Hedge funds have recently bought and sold shares of the company. Saba Capital Management L.P. raised its position in shares of 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 valued at $13,101,000 after purchasing an additional 1,468,441 shares during the period. Landscape Capital Management L.L.C. lifted its position in Pioneer Municipal High Income Advantage Fund by 55.3% during the third quarter. Landscape Capital Management L.L.C. now owns 22,843 shares of the company’s stock worth $154,000 after acquiring an additional 8,136 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Pioneer Municipal High Income Advantage Fund during the fourth quarter worth approximately $280,000. AQR Arbitrage LLC grew its position in shares of Pioneer Municipal High Income Advantage Fund by 79.5% in the third 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 last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Pioneer Municipal High Income Advantage Fund by 46.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the company’s stock worth $163,000 after purchasing an additional 6,470 shares during the period.

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.