Insider Buying: Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) Major Shareholder Acquires $187,969.34 in Stock

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) major shareholder Saba Capital Management, L.P. purchased 24,037 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $7.82 per share, with a total value of $187,969.34. Following the completion of the purchase, the insider now directly owns 2,701,710 shares in the company, valued at approximately $21,127,372.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, April 24th, Saba Capital Management, L.P. purchased 7,534 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were acquired at an average cost of $7.82 per share, with a total value of $58,915.88.
• On Tuesday, March 19th, Saba Capital Management, L.P. purchased 18,383 shares of Pioneer Municipal High Income Advantage Fund stock. The shares were 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 $7.98 on Friday. Pioneer Municipal High Income Advantage Fund, Inc. has a 52-week low of $6.37 and a 52-week high of $8.19. The stock has a 50 day moving average price of $8.01 and a 200 day moving average price of $7.76.

Pioneer Municipal High Income Advantage Fund Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 19th were issued 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. This represents a $0.39 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, April 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Journey Strategic Wealth LLC increased its holdings 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 worth $87,000 after purchasing an additional 2,000 shares during the period. Camelot Portfolios LLC increased its holdings in Pioneer Municipal High Income Advantage Fund by 13.3% during the 4th quarter. Camelot Portfolios LLC now owns 17,000 shares of the company’s stock worth $136,000 after purchasing an additional 2,000 shares during the period. Raymond James & Associates increased its holdings in Pioneer Municipal High Income Advantage Fund by 2.7% during the 3rd quarter. Raymond James & Associates now owns 97,347 shares of the company’s stock worth $655,000 after purchasing an additional 2,605 shares during the period. Riverbridge Partners LLC increased its holdings in Pioneer Municipal High Income Advantage Fund by 3.1% during the 1st quarter. Riverbridge Partners LLC now owns 138,414 shares of the company’s stock worth $1,128,000 after purchasing an additional 4,223 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in Pioneer Municipal High Income Advantage Fund by 46.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the company’s stock worth $163,000 after purchasing an additional 6,470 shares during the period.

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.