🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Saba capital management acquires $42,099 in Pioneer Municipal High Income Advantage Fund

Published 11/05/2024, 12:24 PM
MAV
-

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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.