Pioneer Municipal High Income Advantage Fund
MAV
MAV was delisted on the 22nd of August, 2025.
60 hedge funds and large institutions have $109M invested in Pioneer Municipal High Income Advantage Fund in 2025 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 22 increasing their positions, 18 reducing their positions, and 6 closing their positions.
22% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 18
1.75% more ownership
Funds ownership: 53% → 54.75% (+1.7%)
2% more capital invested
Capital invested by funds: $107M → $109M (+$2.5M)
0% more funds holding
Funds holding: 60 → 60 (0)
0% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$1.38M |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$1.3M |
| 3 |
IA
Icon Advisers
Greenwood Village,
Colorado
|
+$1.03M |
| 4 |
Verition Fund Management
Greenwich,
Connecticut
|
+$858K |
| 5 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$543K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
-$1.02M |
| 2 |
KWA
Kingswood Wealth Advisors
San Diego,
California
|
-$495K |
| 3 |
VanEck Associates
New York
|
-$492K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$409K |
| 5 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$327K |
MAV Hedge Fund Activity: Q1 2025 in Review
60 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Pioneer Municipal High Income Advantage Fund (MAV) for Q1 2025, worth a combined $109M — up 2.3% from $107M a quarter earlier.
Fund positioning in MAV was balanced in Q1 2025: 6 funds opened new positions, 6 closed out, 22 added to existing stakes and 18 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $1.38M. The largest seller was Pathstone Holdings, cutting an estimated $1.02M.
- 60 institutional investors held Pioneer Municipal High Income Advantage Fund (MAV) as of Q1 2025, unchanged from Q4 2024.
- Funds reported $109M of Pioneer Municipal High Income Advantage Fund stock for Q1 2025, up 2.3% quarter-over-quarter.
- 6 funds opened new Pioneer Municipal High Income Advantage Fund positions in Q1 2025 and 6 closed out, a net change of 0 holders.
- The largest Pioneer Municipal High Income Advantage Fund buyer in Q1 2025 was Saba Capital Management, an estimated $1.38M added.
- The largest Pioneer Municipal High Income Advantage Fund seller in Q1 2025 was Pathstone Holdings, an estimated $1.02M sold.
Based on aggregated 13F filings for Q1 2025.