Insider Buying: Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Buys 42,553 Shares of Stock

Posted by Grant Hamersma on Aug 27th, 2024

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV – Get Free Report) major shareholder Saba Capital Management, L.P. bought 42,553 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $8.69 per share, with a total value of $369,785.57. Following the completion of the acquisition, the insider now directly owns 3,247,770 shares of the company’s stock, valued at approximately $28,223,121.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% 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 Monday, August 26th, Saba Capital Management, L.P. bought 23,089 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $8.62 per share, with a total value of $199,027.18.
On Wednesday, August 21st, Saba Capital Management, L.P. acquired 1,622 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was bought at an average cost of $8.00 per share, for a total transaction of $12,976.00.
On Monday, August 19th, Saba Capital Management, L.P. bought 616 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was bought at an average cost of $8.69 per share, for a total transaction of $5,353.04.
On Friday, August 16th, Saba Capital Management, L.P. bought 3,318 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average cost of $8.69 per share, for a total transaction of $28,833.42.
On Wednesday, August 14th, Saba Capital Management, L.P. purchased 100 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average price of $8.70 per share, with a total value of $870.00.
On Monday, August 12th, Saba Capital Management, L.P. bought 57,917 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average price of $8.66 per share, with a total value of $501,561.22.
On Wednesday, August 7th, Saba Capital Management, L.P. purchased 29,503 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average price of $8.64 per share, for a total transaction of $254,905.92.
On Monday, August 5th, Saba Capital Management, L.P. bought 2,541 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought at an average cost of $8.50 per share, for a total transaction of $21,598.50.
On Friday, August 2nd, Saba Capital Management, L.P. bought 2,100 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought at an average cost of $8.60 per share, for a total transaction of $18,060.00.
On Thursday, July 25th, Saba Capital Management, L.P. acquired 26,275 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought at an average price of $8.40 per share, with a total value of $220,710.00.

Pioneer Municipal High Income Advantage Fund Stock Performance

Pioneer Municipal High Income Advantage Fund stock traded up $0.02 during trading hours on Tuesday, reaching $8.66. The stock had a trading volume of 29,521 shares, compared to its average volume of 58,018. Pioneer Municipal High Income Advantage Fund, Inc. has a 52 week low of $6.37 and a 52 week high of $8.74. The business’s 50 day moving average price is $8.42 and its 200-day moving average price is $8.17.

Pioneer Municipal High Income Advantage Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be paid a $0.0325 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $0.39 annualized dividend and a yield of 4.50%.

Hedge Funds Weigh In On Pioneer Municipal High Income Advantage Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Robinson Capital Management LLC grew its stake in shares of Pioneer Municipal High Income Advantage Fund by 16.1% during the fourth 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 last quarter. Whitebox Advisors LLC grew its position in Pioneer Municipal High Income Advantage Fund by 92.0% during the 2nd quarter. Whitebox Advisors LLC now owns 269,192 shares of the company’s stock worth $2,210,000 after purchasing an additional 128,974 shares during the last quarter. City of London Investment Management Co. Ltd. increased its stake in Pioneer Municipal High Income Advantage Fund by 36.1% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 263,683 shares of the company’s stock valued at $2,165,000 after purchasing an additional 70,000 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Pioneer Municipal High Income Advantage Fund by 13.3% in the fourth quarter. Van ECK Associates Corp now owns 182,186 shares of the company’s stock worth $1,461,000 after buying an additional 21,421 shares during the last quarter. Finally, Gridiron Partners LLC acquired a new stake in shares of Pioneer Municipal High Income Advantage Fund during the fourth quarter worth $1,354,000.

Pioneer Municipal High Income Advantage Fund Company Profile

(Get Free Report)

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.