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Saba Capital Management, L.P., a significant stakeholder in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV), has recently increased its holdings in the company. The fund, which boasts a market capitalization of $203 million and maintains a strong InvestingPro financial health score, has caught investors' attention with its attractive 4.58% dividend yield. According to a recent filing, Saba Capital acquired a total of 44,917 shares of common stock over two separate transactions.
The purchases were made on January 10 and January 13, with share prices ranging from $8.46 to $8.48. The total value of these transactions amounted to approximately $380,610. Following these acquisitions, Saba Capital now holds 3,906,484 shares in the fund. Notable for investors, MAV has maintained dividend payments for 23 consecutive years, demonstrating consistent income generation for shareholders. InvestingPro analysis reveals several more key insights about the fund's performance and outlook.
These transactions reflect Saba Capital's ongoing interest in Pioneer Municipal High Income Advantage Fund, as the firm continues to maintain a significant position in the company. Trading at a P/E ratio of 5.08 and showing historically low price volatility, the fund presents an interesting case for value-focused investors.
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