Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Acquires $169,496.88 in Stock

Posted by Donald Scott on May 26th, 2024

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 20,874 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $8.12 per share, for a total transaction of $169,496.88. Following the transaction, the insider now owns 2,821,139 shares of the company’s stock, valued at $22,907,648.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Thursday, May 23rd, Saba Capital Management, L.P. bought 2,117 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was purchased at an average price of $8.05 per share, for a total transaction of $17,041.85.
On Wednesday, May 15th, Saba Capital Management, L.P. purchased 49,514 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were purchased at an average price of $8.08 per share, with a total value of $400,073.12.
On Friday, May 3rd, Saba Capital Management, L.P. acquired 13,162 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average price of $7.96 per share, for a total transaction of $104,769.52.
On Wednesday, May 1st, Saba Capital Management, L.P. bought 24,037 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were acquired at an average price of $7.82 per share, with a total value of $187,969.34.
On Wednesday, April 24th, Saba Capital Management, L.P. purchased 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $7.82 per share, for a total transaction of $58,915.88.
On Tuesday, March 19th, Saba Capital Management, L.P. acquired 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The stock was acquired at an average cost of $8.12 per share, with a total value of $149,269.96.

Pioneer Municipal High Income Advantage Fund Price Performance

Shares of MAV stock opened at $8.02 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a 1 year low of $6.37 and a 1 year high of $8.19. The firm’s fifty day simple moving average is $8.00 and its 200 day simple moving average is $7.92.

Pioneer Municipal High Income Advantage Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.0325 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.39 annualized dividend and a dividend yield of 4.86%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC bought a new position in Pioneer Municipal High Income Advantage Fund during the fourth quarter valued at about $68,000. PNC Financial Services Group Inc. acquired a new position in shares of Pioneer Municipal High Income Advantage Fund in the fourth quarter valued at $72,000. Journey Strategic Wealth LLC lifted its position in Pioneer Municipal High Income Advantage Fund by 18.2% in the third quarter. Journey Strategic Wealth LLC now owns 13,000 shares of the company’s stock worth $87,000 after purchasing an additional 2,000 shares during the period. Atlas Wealth LLC acquired a new stake in Pioneer Municipal High Income Advantage Fund during the third quarter worth $122,000. Finally, Janney Montgomery Scott LLC bought a new stake in Pioneer Municipal High Income Advantage Fund in the 3rd quarter valued at $129,000.

About Pioneer Municipal High Income Advantage Fund

(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.