Saba Capital Management, L.P., led by prominent investor Boaz Weinstein, has recently increased its holdings in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV). According to a recent SEC filing, the firm purchased a total of 23,686 shares over two consecutive days, November 19 and November 20, at prices ranging from $8.63 to $8.64 per share. The total value of these transactions amounted to $204,544. Following these acquisitions, Saba Capital's total ownership in the fund stands at 3,445,658 shares.
InvestingPro Insights
Saba Capital Management's recent investment in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) aligns with several attractive characteristics of the fund. According to InvestingPro data, MAV boasts a dividend yield of 4.51%, which is likely to be of interest to income-focused investors like Saba Capital. This yield is particularly noteworthy given that MAV has maintained dividend payments for 22 consecutive years, as highlighted by an InvestingPro Tip.
The fund's stability is further underscored by another InvestingPro Tip, which indicates that the stock generally trades with low price volatility. This characteristic may appeal to Saba Capital's strategy, potentially seeking steady returns in a less volatile investment vehicle.
MAV's financial health appears robust, with InvestingPro data showing a gross profit margin of 100% for the last twelve months as of Q4 2024. Additionally, the fund has been profitable over the same period, as noted in an InvestingPro Tip. These factors could have influenced Saba Capital's decision to increase its stake.
It's worth noting that InvestingPro offers additional insights, with 5 more tips available for MAV on the InvestingPro platform. These additional tips could provide further context to Saba Capital's investment decision and offer valuable information for other investors considering MAV.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.