RiverNorth Capital Management, LLC reports beneficial ownership of 510,263 shares of Pioneer Municipal High Income Advantage Fund, Inc. common stock, representing 2.13% of the class. The filing clarifies that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. RiverNorth discloses sole voting and dispositive power over the reported shares and states other persons have the right to receive proceeds from sale of these securities.
Positive
None.
Negative
None.
Insights
TL;DR: A routine 13G/A shows a modest 2.13% stake held in the ordinary course, indicating passive investor status.
RiverNorth's reported 2.13% holding is below typical activist thresholds and the certification expressly denies any intent to influence control. For investors this is a transparency filing rather than a strategic shift; voting and dispositive control are reported as sole to the adviser, but the filing states other persons may receive sale proceeds, suggesting managed accounts or client-directed economic interests.
TL;DR: Disclosure is compliant and non-material to corporate control; no governance change signaled.
The schedule includes the required certification that the position is held in the ordinary course and not for control purposes, which limits governance implications. At 2.13% ownership, RiverNorth lacks the scale to exert board influence absent coordination with other holders. The filing and signature by the firm’s CCO indicate appropriate compliance processes.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE FUND, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
723762100
(CUSIP Number)
06/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
723762100
1
Names of Reporting Persons
RIVERNORTH CAPITAL MANAGEMENT, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
510,262.77
6
Shared Voting Power
0.00
7
Sole Dispositive Power
510,262.77
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
510,262.77
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.13 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
PIONEER MUNICIPAL HIGH INCOME ADVANTAGE FUND, INC.
(b)
Address of issuer's principal executive offices:
60 STATE STREET, 5TH FLOOR, BOSTON, MA, 02109
Item 2.
(a)
Name of person filing:
RiverNorth Capital Management, LLC
(b)
Address or principal business office or, if none, residence:
360 S. Rosemary Avenue, Ste. 1420
West Palm Beach, Florida 33401
(c)
Citizenship:
Delaware
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
723762100
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
510,263
(b)
Percent of class:
2.13 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
510,263
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
510,263
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Other persons have the right to receive the proceeds froim the sale of the securities reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Not applicable.
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Not applicable.
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Not applicable.
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
RIVERNORTH CAPITAL MANAGEMENT, LLC
Signature:
/s/ Marcus Collins
Name/Title:
Marcus Collins, General Counsel and Chief Compliance Officer
Date:
08/14/2025
Comments accompanying signature: After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
