Saba Capital Management, L.P., a significant shareholder in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV), recently increased its holdings in the fund. The $211 million market cap fund, which boasts a 4.45% dividend yield and has maintained dividend payments for 22 consecutive years according to InvestingPro, continues to attract institutional interest. According to a filing with the Securities and Exchange Commission, the firm acquired 1,700 shares at a price of $8.74 each, totaling approximately $14,858. This transaction boosts Saba Capital Management’s total ownership to 3,485,752 shares, reflecting its ongoing investment strategy in the fund. Currently trading near its 52-week high at $8.82, MAV demonstrates relatively low volatility with a beta of 0.65. The acquisition was signed off by Zachary Gindes on behalf of Saba Capital Management and by Boaz Weinstein. (InvestingPro subscribers have access to 4 additional investment tips for MAV.)
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
