Saba capital administration buys $791,530 in Pioneer municipal fund inventory

NEW YORK—Saba Capital Administration, L.P., led by Boaz Weinstein, has acquired extra shares in Pioneer Municipal Excessive Earnings Benefit Fund, Inc. (NYSE:MAV), in line with a latest SEC submitting. The agency bought a complete of 91,638 shares over two days, December 17 and 18, with a complete worth of $791,530. The shares had been acquired at costs starting from $8.60 to $8.66 per share. The fund, presently buying and selling at $8.50, has demonstrated robust efficiency with a ten.89% year-to-date return and maintains a wholesome 4.59% dividend yield, in line with InvestingPro information.

Because of these transactions, Saba Capital Administration’s whole possession within the fund elevated to three,577,390 shares. The purchases underscore the agency’s continued curiosity within the fund, which focuses on high-income municipal securities and has maintained dividend funds for 22 consecutive years. The transactions had been executed not directly, as famous within the submitting. InvestingPro evaluation reveals the fund’s robust monetary place with a market capitalization of $203.51 million and a gorgeous P/E ratio of 5.1.

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