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Saba Capital Administration, L.P., a major shareholder in Pioneer Municipal Excessive Earnings Fund, Inc. (NYSE:MHI), has elevated its stake within the firm with current inventory purchases. The fund, which boasts a market capitalization of $213.37 million and a steady dividend historical past spanning 22 consecutive years, at the moment affords a 4.49% dividend yield. In keeping with a submitting with the Securities and Change Fee, Saba Capital acquired a complete of 36,034 shares over two days.
On December 19, the agency bought 28,734 shares at $9.38 per share, and on December 20, it acquired a further 7,300 shares at $9.35 per share. These transactions quantity to a complete funding of $337,779. Following these acquisitions, Saba Capital’s complete holdings in Pioneer Municipal Excessive Earnings Fund now stand at 3,968,477 shares. The fund demonstrates comparatively low volatility with a beta of 0.67 and powerful liquidity metrics, as revealed by InvestingPro evaluation.
The transactions have been executed by Saba Capital Administration, L.P., with Boaz Weinstein, a ten % proprietor, additionally listed within the submitting. The fund maintains a wholesome present ratio of two.07, indicating robust short-term monetary stability.
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