MAV: Tax-Free Distributions, Activists Remain Invested

  • Pioneer Municipal High Income Advantage Fund (MAV) focuses on municipal bond exposure, with a lower quality tilt. Saba Capital Management has continued holding a sizable stake in this fund, along with several other CEF-focused institutional management teams. Despite the discount narrowing since our prior update, MAV remains a 'Hold' for tax-exempt distributions, with potential benefits from Saba's activist position.