Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Purchases $58,915.88 in Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. purchased 7,534 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was acquired at an average cost of $7.82 per share, with a total value of $58,915.88. Following the purchase, the insider now directly owns 2,638,717 shares of the company’s stock, valued at $20,634,766.94. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was bought 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 stock was bought at an average price of $7.85 per share, with a total value of $137,013.90.

Pioneer Municipal High Income Advantage Fund Stock Performance

MAV opened at $7.84 on Friday. The business has a 50 day moving average of $8.03 and a 200-day moving average of $7.72. Pioneer Municipal High Income Advantage Fund, Inc. has a 52 week low of $6.37 and a 52 week high of $8.20.

Pioneer Municipal High Income Advantage Fund Increases Dividend

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

Institutional Trading of Pioneer Municipal High Income Advantage Fund

A number of hedge funds have recently made changes to their positions in MAV. Blue Bell Private Wealth Management LLC purchased a new position in Pioneer Municipal High Income Advantage Fund during the fourth quarter valued at $68,000. PNC Financial Services Group Inc. bought a new stake in shares of Pioneer Municipal High Income Advantage Fund during the fourth quarter valued at approximately $72,000. Simon Quick Advisors LLC purchased a new position in Pioneer Municipal High Income Advantage Fund in the 3rd quarter worth approximately $69,000. Journey Strategic Wealth LLC boosted its stake in Pioneer Municipal High Income Advantage Fund by 18.2% during the 3rd quarter. Journey Strategic Wealth LLC now owns 13,000 shares of the company’s stock valued at $87,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Pioneer Municipal High Income Advantage Fund in the 4th quarter worth $135,000.

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.