Saba Capital Management, L.P., a significant stakeholder in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV), recently reported a purchase of 4,867 shares of common stock. The acquisition, valued at approximately $42,099, was executed at a price of $8.65 per share on November 4, 2024. Following this transaction, Saba Capital Management now holds a total of 3,347,932 shares in the fund. This move underscores the firm's continued interest in the municipal bond-focused closed-end fund, which aims to provide high current income by investing in municipal securities.
InvestingPro Insights
Saba Capital Management's recent acquisition of Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV) shares aligns with several key financial indicators that highlight the fund's stability and income potential. According to InvestingPro data, MAV boasts a dividend yield of 4.49%, which is particularly attractive in the current market environment. This yield is supported by the fund's consistent dividend history, with an InvestingPro Tip noting that MAV "has maintained dividend payments for 22 consecutive years."
The fund's financial health is further underscored by its profitability over the last twelve months and the fact that its liquid assets exceed short-term obligations, as revealed by additional InvestingPro Tips. These factors likely contribute to the stock's low price volatility, making it an appealing option for investors seeking steady income streams.
MAV's market capitalization stands at $208.06 million, with a price-to-earnings ratio of 54.97. While this P/E ratio might seem high, it's important to consider the fund's focus on municipal securities, which often prioritize income generation over rapid growth. The fund's revenue growth of 11.49% over the last twelve months and 17.66% in the most recent quarter demonstrates its ability to expand its income base.
For investors interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide valuable insights into MAV's investment potential. Currently, there are 5 more InvestingPro Tips available for MAV, which could offer a more comprehensive view of the fund's prospects and risks.
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