Saba capital management increases stake in Pioneer Municipal High Income Advantage Fund

Saba Capital Management, L.P., a significant stakeholder in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV), has increased its holdings in the fund. According to a recent SEC filing, Saba Capital purchased a total of 62,994 shares over two days, with transactions occurring on November 14 and 15. The shares were acquired at prices ranging from $8.61 to $8.67, amounting to a total investment of approximately $536,326.

Following these transactions, Saba Capital now holds a total of 3,421,972 shares of the fund. The purchases were made indirectly, as indicated in the filing. Boaz Weinstein, a ten percent owner, is also associated with Saba Capital Management in this transaction report.

InvestingPro Insights

Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) presents an interesting investment profile that aligns with Saba Capital's recent share acquisitions. According to InvestingPro data, MAV's market capitalization stands at $207.34 million, reflecting its position in the investment fund sector.

One of the key attractions for investors like Saba Capital could be MAV's dividend yield, which currently sits at an impressive 4.54%. This aligns with an InvestingPro Tip highlighting that MAV "has maintained dividend payments for 22 consecutive years," demonstrating a strong commitment to shareholder returns.

The fund's financial health appears robust, with another InvestingPro Tip noting that "liquid assets exceed short term obligations." This financial stability could be a factor in Saba Capital's decision to increase its stake, as it suggests the fund is well-positioned to meet its financial commitments.

MAV's stock performance has been positive, with a year-to-date price total return of 11.65% and a one-year price total return of 21.77%. These figures indicate the fund has been delivering value to its shareholders, which may have contributed to Saba Capital's investment decision.

It's worth noting that InvestingPro offers additional insights, with 5 more tips available for MAV on the platform. These extra tips could provide further context to the fund's investment potential and Saba Capital's strategy.

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