Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Saba Capital Management, L.P. Buys 14,860 Shares of Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. bought 14,860 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average price of $8.67 per share, for a total transaction of $128,836.20. Following the purchase, the insider now owns 3,285,719 shares of the company’s stock, valued at approximately $28,487,183.73. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 Monday, August 26th, Saba Capital Management, L.P. acquired 23,089 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $8.62 per share, for a total transaction of $199,027.18.
• On Friday, August 23rd, Saba Capital Management, L.P. bought 42,553 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $8.69 per share, with a total value of $369,785.57.
• On Wednesday, August 21st, Saba Capital Management, L.P. bought 1,622 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $8.00 per share, with a total value of $12,976.00.
• On Monday, August 19th, Saba Capital Management, L.P. purchased 616 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was bought at an average price of $8.69 per share, with a total value 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 bought at an average price 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 stock was purchased at an average price of $8.70 per share, for a total transaction of $870.00.
• On Monday, August 12th, Saba Capital Management, L.P. acquired 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. acquired 29,503 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were bought at an average price of $8.64 per share, with a total value of $254,905.92.
• On Monday, August 5th, Saba Capital Management, L.P. purchased 2,541 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased 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 stock was purchased at an average cost of $8.60 per share, with a total value of $18,060.00.

Pioneer Municipal High Income Advantage Fund Stock Performance

MAV traded up $0.04 during trading on Friday, hitting $8.80. 12,844 shares of the company traded hands, compared to its average volume of 58,195. Pioneer Municipal High Income Advantage Fund, Inc. has a 1 year low of $6.37 and a 1 year high of $8.82. The stock’s 50-day simple moving average is $8.45 and its two-hundred day simple moving average is $8.18.

Pioneer Municipal High Income Advantage Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.0325 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.39 annualized dividend and a dividend yield of 4.43%.

Institutional Investors Weigh In On Pioneer Municipal High Income Advantage Fund

Several hedge funds and other institutional investors have recently modified their holdings of MAV. International Assets Investment Management LLC raised its position in Pioneer Municipal High Income Advantage Fund by 644.7% during the 4th quarter. International Assets Investment Management LLC now owns 52,130 shares of the company’s stock valued at $418,000 after purchasing an additional 45,130 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Pioneer Municipal High Income Advantage Fund during the fourth quarter valued at approximately $72,000. Catalytic Wealth RIA LLC bought a new position in shares of Pioneer Municipal High Income Advantage Fund during the fourth quarter valued at approximately $135,000. Robinson Capital Management LLC increased its holdings in 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 valued at $3,320,000 after buying an additional 57,313 shares during the period. Finally, Gridiron Partners LLC bought a new position in Pioneer Municipal High Income Advantage Fund in the fourth quarter worth approximately $1,354,000.

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.