Categories: Insider Trading News

Saba Capital Administration will increase stake in Pioneer Municipal Excessive Earnings Fund


NEW YORK—Saba Capital Administration, L.P., a distinguished funding agency, has elevated its holdings in Pioneer Municipal Excessive Earnings Alternatives Fund, Inc. (NYSE:MIO) with latest inventory acquisitions. In keeping with a submitting with the Securities and Trade Fee, the agency bought a complete of 35,139 shares over two days, December 19 and 20, 2024. The acquisition was made at costs starting from $11.94 to $12.00 per share, amounting to a complete funding of roughly $420,809. The fund, presently buying and selling at $11.85, has proven robust efficiency with an 18% year-to-date return and provides a 5% dividend yield.

These transactions have elevated Saba Capital Administration’s complete holdings within the fund to 1,998,484 shares. The purchases mirror the agency’s ongoing curiosity within the Pioneer Municipal Excessive Earnings Alternatives Fund, which focuses on producing excessive present revenue by investments in municipal securities.

Boaz Weinstein, a key determine at Saba Capital, was additionally listed within the submitting, indicating his involvement within the transaction selections. The acquisitions have been reported as oblique possession, aligning with Saba Capital’s funding technique.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.

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