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Pioneer Municipal High Income Advantage Trust (MAV)



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Upturn Advisory Summary
02/18/2025: MAV (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit -1.11% | Avg. Invested days 35 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 201.36M USD | Price to earnings Ratio 5.01 | 1Y Target Price - |
Price to earnings Ratio 5.01 | 1Y Target Price - | ||
Volume (30-day avg) 52112 | Beta 0.69 | 52 Weeks Range 7.47 - 8.89 | Updated Date 04/2/2025 |
52 Weeks Range 7.47 - 8.89 | Updated Date 04/2/2025 | ||
Dividends yield (FY) 4.63% | Basic EPS (TTM) 1.68 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 225.67% | Operating Margin (TTM) 82.78% |
Management Effectiveness
Return on Assets (TTM) 3.1% | Return on Equity (TTM) 13.1% |
Valuation
Trailing PE 5.01 | Forward PE - | Enterprise Value 250394160 | Price to Sales(TTM) 11.37 |
Enterprise Value 250394160 | Price to Sales(TTM) 11.37 | ||
Enterprise Value to Revenue 4.9 | Enterprise Value to EBITDA - | Shares Outstanding 23914400 | Shares Floating - |
Shares Outstanding 23914400 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 57.07 |
Analyst Ratings
Rating - | Target Price - | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Pioneer Municipal High Income Advantage Trust

Company Overview
History and Background
Pioneer Municipal High Income Advantage Trust (MAV) is a closed-end fund established to provide high current income exempt from federal income tax, where possible, while preserving capital. It invests primarily in municipal bonds.
Core Business Areas
- Municipal Bond Investments: The Trust invests in a portfolio of municipal bonds, seeking to provide federally tax-exempt income. They focus on both investment grade and below-investment grade bonds.
Leadership and Structure
The fund is managed by Amundi Asset Management US, Inc. The structure is that of a closed-end investment trust, with a board of trustees overseeing the management company's operations.
Top Products and Market Share
Key Offerings
- Tax-Exempt Income Generation: MAV provides investors with a stream of income exempt from federal income taxes by investing in municipal bonds. Competitors include other closed-end municipal bond funds such as Nuveen, BlackRock, and Eaton Vance.
Market Dynamics
Industry Overview
The municipal bond market is influenced by interest rates, credit ratings, and tax policy changes. Demand is driven by investors seeking tax-advantaged income.
Positioning
MAV seeks to provide high income, accepting higher risk. Thus, it aims for a market segment desiring high yield within the municipal bond space.
Total Addressable Market (TAM)
The total municipal bond market is valued in the trillions of dollars. MAV, being a relatively small closed-end fund, addresses a niche within this TAM focused on high-yield opportunities.
Upturn SWOT Analysis
Strengths
- Experienced Management Team
- High Current Income Potential
- Tax-Exempt Income
Weaknesses
- Exposure to Credit Risk
- Interest Rate Sensitivity
- Discount to Net Asset Value (NAV)
Opportunities
- Rising Interest Rate Environment (potentially beneficial for new investments)
- Increased Demand for Tax-Advantaged Investments
- Active Management to Enhance Returns
Threats
- Economic Downturn Impacting Municipal Bond Issuers
- Changes in Tax Laws Reducing Tax Benefits
- Increased Competition from Other Fixed Income Products
Competitors and Market Share
Key Competitors
- Nuveen Municipal High Income Opportunity Fund (NMI)
- BlackRock MuniYield Investment Quality Fund (MFT)
- Eaton Vance Municipal Income Trust (EVN)
Competitive Landscape
MAV competes with other closed-end municipal bond funds. Its success depends on its ability to deliver competitive yields and manage risk effectively.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Growth is limited by the fund's closed-end structure. AUM may fluctuate due to market conditions.
Future Projections: Future growth depends on the management's ability to generate income and NAV appreciation in a challenging market environment.
Recent Initiatives: Active management of the portfolio to optimize income and manage credit risk.
Summary
Pioneer Municipal High Income Advantage Trust offers tax-exempt income to investors. Its strength lies in its experienced management and high yield potential. However, it faces risks from interest rate fluctuations and credit quality. Investors need to consider these risks when evaluating MAV as part of their fixed-income portfolio.
Similar Companies
EVN

Eaton Vance Municipal Income Closed Fund


EVN

Eaton Vance Municipal Income Closed Fund
Sources and Disclaimers
Data Sources:
- Amundi Asset Management US, Inc.
- SEC Filings
- Morningstar
- Yahoo Finance
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual circumstances and risk tolerance.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Pioneer Municipal High Income Advantage Trust
Exchange NYSE | Headquaters Boston, MA, United States | ||
IPO Launch date 2003-10-16 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website |
Full time employees - | Website |
Pioneer Municipal High Income Advantage Fund, Inc. is a closed ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc. The fund invests in the fixed income markets of the United States. It invests primarily in municipal bonds. The fund benchmarks the performance of its portfolio against the Barclays Capital High Yield Municipal Bond Index and the Barclays Capital Municipal Bond Index. It was formerly known as Pioneer Municipal Advantage Trust. Pioneer Municipal High Income Advantage Fund, Inc. was formed on August 6, 2003 and is domiciled in the United States.
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