Insider Buying: Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Acquires 7,534 Shares of Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. acquired 7,534 shares of the stock in a transaction on Wednesday, April 24th. The shares were acquired at an average cost of $7.82 per share, for a total transaction of $58,915.88. Following the completion of the transaction, the insider now directly owns 2,638,717 shares in the company, valued at approximately $20,634,766.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major 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. acquired 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average price of $8.12 per share, for a total transaction of $149,269.96.
• On Tuesday, January 30th, Saba Capital Management, L.P. bought 17,454 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $7.85 per share, with a total value of $137,013.90.

Pioneer Municipal High Income Advantage Fund Stock Performance

MAV stock traded up $0.02 during midday trading on Friday, hitting $7.83. 25,311 shares of the stock were exchanged, compared to its average volume of 57,505. Pioneer Municipal High Income Advantage Fund, Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $8.20. The stock’s 50-day moving average price is $8.04 and its 200-day moving average price is $7.71.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 19th will be paid a dividend of $0.0325 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.98%. This is a positive change from Pioneer Municipal High Income Advantage Fund’s previous monthly dividend of $0.03.

Hedge Funds Weigh In On Pioneer Municipal High Income Advantage Fund

Several large investors have recently added to or reduced their stakes in the business. AE Wealth Management LLC acquired a new position in Pioneer Municipal High Income Advantage Fund during the 3rd quarter worth approximately $249,000. Raymond James & Associates lifted its position in shares of Pioneer Municipal High Income Advantage Fund by 2.7% during the third quarter. Raymond James & Associates now owns 97,347 shares of the company’s stock worth $655,000 after purchasing an additional 2,605 shares in the last quarter. Simon Quick Advisors LLC acquired a new position in shares of Pioneer Municipal High Income Advantage Fund during the third quarter worth $69,000. Bank of New York Mellon Corp boosted its stake in shares of Pioneer Municipal High Income Advantage Fund by 54.3% in the third quarter. Bank of New York Mellon Corp now owns 55,299 shares of the company’s stock valued at $372,000 after purchasing an additional 19,449 shares during the period. Finally, Advisor Partners II LLC acquired a new stake in Pioneer Municipal High Income Advantage Fund during the 3rd quarter valued at $630,000.

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.