Saba Capital Management Buys $204,544 in Pioneer Municipal Fund From Investing.com

Saba Capital Management, LP, led by renowned investor Boaz Weinstein, recently increased its stake in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV). According to a recent SEC filing, the company traded a total of 23,686 shares at prices between $8.63 and $8.64 per share for two consecutive days, November 19 and 20. The total value of these transactions is $204,544. Following these purchases, Saba Capital now holds a total of 3,445,658 shares in the fund.

InvestingPro Insights

Saba Capital Management’s recent investment in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) fits several attractive features of the fund. According to InvestingPro data, MAV offers a dividend yield of 4.51%, which should be particularly attractive to income-focused investors like Saba Capital. This return is all the more remarkable because, as an InvestingPro tip points out, MAV has paid uninterrupted dividends for an impressive 22 years.

The stability of the fund is underlined by another InvestingPro tip, which points to generally low price volatility. This feature could suit Saba Capital’s investment strategy, which is presumably aimed at steady returns in a less volatile investment product.

MAV’s financial strength appears solid. InvestingPro data shows a gross margin of 100% for the last twelve months through Q4 2024. Additionally, the fund was profitable over the same period, as another InvestingPro tip notes. These factors may have significantly influenced Saba Capital’s decision to increase its position.

It’s worth mentioning that InvestingPro offers additional insights, with 5 more tips on MAV on the InvestingPro platform. This additional information could provide further insight into Saba Capital’s investment decision and provide valuable guidance for other investors considering investing in MAV.

This translation was created using artificial intelligence. For further information, please see our Terms of Use.