Saba capital management increases stake in Pioneer Municipal High Income Advantage Fund via Investing.com
Saba Capital Management, LP, a significant shareholder in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV), recently increased its holdings in the company. The fund, which boasts a market capitalization of $203 million, maintains a strong InvestingPro financial health assessment, attracted the attention of investors with its attractive dividend yield of 4.58%. According to a recent filing, Saba Capital acquired a total of 44,917 common shares in two separate transactions.
Purchases were made on January 10 and 13, with share prices ranging from $8.46 to $8.48. The total value of these transactions was approximately $380,610. Following these acquisitions, Saba Capital now holds 3,906,484 shares in the fund. Significantly for investors, MAV has maintained dividend payments for 23 consecutive years, demonstrating consistent income generation for shareholders. InvestingPro the analysis reveals several more key insights about the fund’s performance and prospects.
These transactions reflect Saba Capital’s continued 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 exhibiting historically low price volatility, the fund makes an interesting case for value-focused investors.
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