mhiatsoi.htm
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
    OF REGISTERED MANAGEMENT INVESTMENT COMPANY



  Investment Company Act file number 811-21409


                  Pioneer Municipal High Income Advantage Trust
               (Exact name of registrant as specified in charter)


                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)


            Dorothy E. Bourassa, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)


Registrant's telephone number, including area code:  (617) 742-7825


Date of fiscal year end:  March 31

Date of reporting period:  June 30, 2013

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.


<PAGE>
ITEM 1. Schedule of Investments.




Pioneer Municipal High


                     Income Advantage Trust






                                 | June 30, 2013

 
Ticker Symbol:  MAV
 



 


   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
TAX EXEMPT OBLIGATIONS -  146.8% of Net Assets
 
       
Alabama - 1.6%
 
   
  2,500,000 
NR/B2
Alabama Industrial Development Authority Solid Waste Disposal Revenue, 6.45%, 12/1/23   
$ 2,510,550 
   
  2,500,000 
NR/NR
Huntsville-Redstone Village Special Care Facilities Financing Authority Nursing Home Revenue, 5.5%, 1/1/43   
  2,176,550 
         
$ 4,687,100 
       
Arizona - 3.4%
 
   
  5,000,000 
NR/NR
Casa Grande Industrial Development Authority Hospital Revenue, 7.625%, 12/1/29   
$ 5,155,250 
   
  1,477,000 
NR/Baa3
Pima County Industrial Development Authority, 6.75%, 7/1/31   
  1,477,237 
   
  2,640,000 
NR/NR
Pima County Industrial Development Authority, 7.0%, 1/1/38   
  2,646,019 
   
  1,000,000 
NR/NR
San Luis Facility Development Corp., 7.25%, 5/1/27   
  823,200 
         
$ 10,101,706 
       
California - 14.3%
 
   
  6,990,000 
CCC/NR
California County Tobacco Securitization Agency Revenue, 5.25%, 6/1/46   
$ 5,013,577 
   
  1,550,000 
NR/NR
California Enterprise Development Authority Recovery Zone Facility Revenue, 8.5%, 4/1/31   
  1,708,038 
   
  5,000,000 
NR/Baa3
California Pollution Control Financing Authority, 5.0%, 7/1/37   
  4,870,400 
   
  2,425,000 
A/A1
California State General Obligation Various Purpose, 5.75%, 4/1/31   
  2,672,617 
   
  1,875,000 
NR/NR
California Statewide Communities Development Authority, 5.875%, 11/1/43   
  1,648,950 
   
  757,342(a)
NR/NR
California Statewide Communities Development Authority Environmental Facilities Revenue, 9.0%, 12/1/38   
  6,665 
   
  4,000,000 
BB/NR
California Statewide Communities Development Authority Revenue Higher Education Revenue, 7.25%, 10/1/38 (144A) 
  3,973,680 
   
  20,000,000(b)
NR/NR
Inland Empire Tobacco Securitization Authority, 0.0%, 6/1/36   
  3,155,800 
   
  3,140,000 
AA-/WR
Lehman Municipal Trust Receipts Revenue, RIB, 13.124%, 9/20/28 (144A) 
  3,572,378 
   
  8,575,000(c)
AA-/NR
Lehman Municipal Trust Receipts, General Obligation, 13.031%, 7/28/31   
  9,534,885 
   
  1,500,000 
A-/NR
Madera Irrigation Financing Authority Water Revenue, 6.25%, 1/1/31   
  1,636,965 
   
  1,500,000 
A-/NR
Madera Irrigation Financing Authority Water Revenue, 6.5%, 1/1/40   
  1,659,615 
   
  2,500,000 
A-/A2
San Jose California Airport Revenue, RIB, 5.0%, 3/1/37   
  2,540,050 
         
$ 41,993,620 
       
Colorado - 3.1%
 
   
  1,000,000 
NR/NR
Kremmling Memorial Hospital District Certificate of Participation, 7.125%, 12/1/45   
$ 1,054,450 
   
  7,500,000 
AA+/Aa2
Regional Transportation District, 5.0%, 11/1/31   
  8,164,875 
         
$ 9,219,325 
       
Connecticut - 0.4%
 
   
  1,000,000 
NR/NR
Hamden Connecticut Facility Revenue, 7.75%, 1/1/43   
$ 1,042,900 
           
       
District of Colombia - 3.4%
 
   
  2,700,000 
BBB/Baa1
District of Columbia Tobacco Settlement Financing Corp., 6.5%, 5/15/33   
$ 2,937,843 
   
  6,825,000 
BBB/Baa1
District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40   
  6,944,164 
         
$ 9,882,007 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating
 (unaudited)            
 
Value
 
       
Florida - 5.5%
 
   
  1,500,000 
NR/NR
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/41   
$ 1,656,450 
   
  1,500,000 
NR/NR
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/46   
  1,652,160 
   
  500,000 
NR/B1
Capital Trust Agency Revenue Bonds, 7.75%, 1/1/41   
  540,050 
   
  1,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 6.0%, 9/15/40   
  1,009,200 
   
  2,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 7.625%, 6/15/41   
  2,177,920 
   
  1,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 7.75%, 6/15/42   
  1,074,360 
   
  1,980,000 
NR/NR
Hillsborough County Industrial Development Authority Revenue, 6.75%, 7/1/29   
  1,980,614 
   
  1,000,000(d)
NR/WR
Hillsborough County Industrial Development Authority Revenue, 8.0%, 8/15/32   
  1,353,850 
   
  2,200,000 
BB/NR
Lee County Industrial Development Authority, 5.375%, 6/15/37   
  2,047,452 
   
  2,500,000 
A/A2
Miami-Dade County Florida Aviation Revenue, 5.5%, 10/1/41   
  2,648,825 
         
$ 16,140,881 
       
Georgia - 4.3%
 
   
  5,210,000 
AA-/WR
Atlanta Georgia Water and Wastewater Revenue, RIB, 12.845%, 11/1/43 (144A) 
$ 5,348,378 
   
  1,000,000 
B/NR
Clayton County Development Authority Revenue, 9.0%, 6/1/35   
  1,085,890 
   
  900,000 
NR/NR
DeKalb County Georgia Hospital Authority Revenue, 6.0%, 9/1/30   
  956,412 
   
  750,000 
NR/NR
DeKalb County Georgia Hospital Authority Revenue, 6.125%, 9/1/40   
  792,570 
   
  3,360,000 
NR/NR
Fulton County Residential Care Facilities for the Elderly Authority, 7.0%, 7/1/29   
  2,820,619 
   
  1,650,000 
NR/NR
Savannah Georgia Economic Development Authority Revenue, 7.4%, 1/1/34   
  1,663,612 
         
$ 12,667,481 
       
Guam - 1.9%
 
   
  1,000,000 
B/NR
Guam Government of Department Education Certificates of Participation, 6.625%, 12/1/30   
$ 1,041,960 
   
  4,400,000(d)
AA+/B2
Northern Mariana Islands, 6.75%, 10/1/33   
  4,470,268 
         
$ 5,512,228 
       
Idaho - 1.2%
 
   
  2,000,000 
A-/Baa1
Power County Industrial Development Corp., Revenue, 6.45%, 8/1/32   
$ 2,002,080 
   
  1,500,000 
A-/Baa1
Power County Pollution Control Revenue, 5.625%, 10/1/14   
  1,500,525 
         
$ 3,502,605 
       
Illinois - 6.9%
 
   
  1,000,000 
NR/Baa1
City of Country Club Hills, General Obligation, 5.0%, 12/1/31   
$ 1,006,990 
 
  365,400(b)
NR/NR
Illinois Finance Authority Revenue, 0.0%, 11/15/52   
  42,026 
   
  417,400(c)
NR/NR
Illinois Finance Authority Revenue, 4.0%, 11/15/52   
  284,583 
   
  1,450,000 
A+/A1
Illinois Finance Authority Revenue, 5.5%, 4/1/39   
  1,510,045 
   
  1,605,000 
AA-/A3
Illinois Finance Authority Revenue, 6.0%, 8/15/25   
  1,661,095 
   
  280,000 
BBB+/NR
Illinois Finance Authority Revenue, 6.0%, 8/15/38   
  298,379 
   
  2,000,000 
AA+/Aa2
Illinois Finance Authority Revenue, 6.0%, 8/15/39   
  2,272,460 
   
  2,500,000 
NR/NR
Illinois Finance Authority Revenue, 6.125%, 11/15/25   
  2,518,700 
   
  45,000 
NR/NR
Illinois Finance Authority Revenue, 7.0%, 11/15/17   
  44,282 
 
  165,000 
NR/NR
Illinois Finance Authority Revenue, 7.0%, 11/15/27   
  156,702 
   
  6,000,000 
NR/NR
Illinois Finance Authority Revenue, 8.25%, 5/15/45   
  6,104,220 
   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
Illinois - (continued)
 
   
  2,500,000 
NR/NR
Illinois Finance Authority Revenue, 8.25%, 2/15/46   
  2,552,475 
   
  2,135,000 
NR/NR
Southwestern Illinois Development Authority Revenue, 5.625%, 11/1/26   
  1,714,042 
         
$ 20,165,999 
       
Indiana - 1.0%
 
   
  250,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.0%, 11/15/32   
$ 264,042 
   
  750,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.125%, 11/15/42   
  788,370 
   
  500,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.125%, 11/15/47   
  522,000 
   
  250,000 
NR/Baa3
East Chicago Indiana Exempt Facilities Revenue, 7.0%, 1/1/14   
  249,830 
   
  1,700,000 
NR/NR
Vincennes Industrial Economic Development Revenue, 6.25%, 1/1/24   
  1,008,729 
         
$ 2,832,971 
       
Kansas - 0.3%
 
   
  1,000,000 
NR/A2
Kansas Development Finance Authority Revenue, 5.0%, 5/15/35   
$ 1,023,980 
           
       
Louisiana - 6.8%
 
   
  7,000,000 
BBB-/Baa3
Jefferson Parish Hospital Service Revenue, 6.375%, 7/1/41   
$ 7,504,700 
   
  2,500,000 
BBB-/Baa3
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue, 6.75%, 11/1/32   
  2,674,975 
   
  6,000,000 
NR/Baa1
Louisiana Public Facilities Authority Revenue, 5.5%, 5/15/47   
  6,166,740 
   
  750,000 
BBB-/NR
Opelousas Louisiana General Hospital Authority Revenue, 5.75%, 10/1/23   
  759,840 
   
  2,915,000 
A-/A3
Tobacco Settlement Financing Corp. Revenue, 5.875%, 5/15/39   
  2,907,713 
         
$ 20,013,968 
       
Maine - 0.6%
 
   
  1,500,000 
NR/Baa3
Maine Health & Higher Educational Facilities Authority Revenue, 7.5%, 7/1/32   
$ 1,784,220 
           
       
Maryland - 3.2%
 
   
  4,500,000 
A-/A2
Maryland Health & Higher Educational Facilities Authority Revenue, 5.0%, 7/1/43   
$ 4,565,160 
   
  460,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 5.25%, 1/1/27   
  441,517 
   
  1,250,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 5.3%, 1/1/37   
  1,121,388 
   
  1,250,000 
NR/Baa3
Maryland Health & Higher Educational Facilities Authority Revenue, 5.75%, 7/1/38   
  1,259,300 
   
  2,000,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 6.25%, 1/1/45   
  2,148,420 
         
$ 9,535,785 
       
Massachusetts - 9.2%
 
   
  595,000 
BB/NR
Massachusetts Development Finance Agency Revenue, 5.25%, 10/1/18   
$ 597,499 
   
  8,000,000 
A/WR
Massachusetts Development Finance Agency Revenue, 5.75%, 1/1/42   
  9,044,960 
   
  1,845,000 
NR/NR
Massachusetts Development Finance Agency Revenue, 7.1%, 7/1/32   
  1,844,982 
   
  2,195,000 
BBB-/Baa3
Massachusetts Health & Educational Facilities Authority Revenue, 5.375%, 7/15/28   
  2,178,164 
   
  2,000,000 
AAA/Aaa
Massachusetts Health & Educational Facilities Authority Revenue, 5.5%, 7/1/32   
  2,482,040 
   
  3,420,000(a)
NR/NR
Massachusetts Health & Educational Facilities Authority Revenue, 6.5%, 1/15/38   
  15,082 
   
  10,760,000 
AA-/Aa3
Massachusetts Housing Finance Agency Revenue, 5.35%, 12/1/45   
  10,763,228 
         
$ 26,925,955 


   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
Michigan - 3.6%
 
   
  2,000,000 
NR/Ba1
Flint Michigan Hospital Building Authority Revenue, 7.375%, 7/1/35   
$ 2,227,940 
   
  2,235,000 
BB+/NR
Kent Hospital Finance Authority Revenue, 6.25%, 7/1/40   
  2,319,081 
   
  675,000 
NR/NR
Michigan Public Educational Facilities Authority Revenue, 7.0%, 10/1/36   
  664,247 
   
  5,000,000 
AA/Aa1
Michigan State University, 5.0%, 8/15/41   
  5,369,750 
         
$ 10,581,018 
       
Minnesota - 0.4%
 
   
  1,000,000 
NR/NR
Port Authority of the City of Bloomington, Minnesota Recovery Zone Facility Revenue, 9.0%, 12/1/35   
$ 1,136,500 
           
       
Missouri - 1.3%
 
   
  1,000,000 
NR/NR
Kansas City Tax Increment Financing Commission Tax Increment Revenue, 6.5%, 6/1/25   
$ 1,011,570 
   
  1,500,000(a)(e)
NR/Ca
St. Louis Industrial Development Authority Revenue, 7.2%, 12/15/28   
  495,000 
   
  6,640,000(a)(e)
NR/Ca
St. Louis Industrial Development Authority Revenue, 7.25%, 12/15/35   
  2,191,200 
         
$ 3,697,770 
       
Montana - 0.7%
 
   
  2,445,000(b) 
NR/NR
Hardin Increment Industrial Infrastructure Development Revenue, 0.0%, 9/1/31   
$ 1,945,658 
   
  1,000,000(a)(e)
NR/NR
Two Rivers Authority Inc., Project Revenue, 7.375%, 11/1/27   
  146,630 
         
$ 2,092,288 
       
Nevada - 2.3%
 
   
  2,000,000 
A+/A1
Nevada Highway Revenue, 5.0%, 2/1/43   
$ 2,046,780 
   
  4,500,000 
A-/A3
Reno Nevada Hospital Revenue, 5.25%, 6/1/41   
  4,560,255 
         
$ 6,607,035 
       
New Hampshire - 0.4%
 
   
  1,125,000(d)
NR/NR
New Hampshire Health & Education Facilities Authority Revenue, 5.875%, 7/1/34   
$ 1,233,068 
           
       
New Jersey - 11.1%
 
   
  2,500,000 
NR/NR
Burlington County New Jersey Bridge Commission Revenue, 5.625%, 1/1/38   
$ 2,503,925 
   
  6,500,000 
NR/NR
New Jersey Economic Development Authority Revenue, 10.5%, 6/1/32 (144A) 
  6,516,835 
   
  7,500,000 
B/B2
New Jersey Economic Development Authority Revenue, 5.75%, 9/15/27   
  7,239,525 
   
  3,500,000 
NR/NR
New Jersey Health Care Facilities Financing Authority, 7.25%, 7/1/27   
  3,499,405 
   
  3,500,000 
AA-/WR
New Jersey State Turnpike Authority Transportation Revenue, RIB, 13.755%, 7/1/23 (144A) 
  4,780,090 
   
  15,375,000(b)
AA+/Aa1
New Jersey Transportation Trust Fund Authority Revenue, 0.0%, 12/15/27   
  7,919,201 
         
$ 32,458,981 
       
New York - 8.4%
 
   
  1,630,000 
NR/NR
Dutchess County Industrial Development Agency, 7.5%, 3/1/29   
$ 1,656,357 
   
  7,000,000 
BB/B2
New York City Industrial Development Agency Revenue, 5.25%, 12/1/32   
  6,608,980 
   
  3,950,000 
BB/B2
New York City Industrial Development Agency Revenue, 7.625%, 12/1/32   
  3,988,947 
   
  5,000,000 
AAA/Aaa
New York State Dormitory Authority Revenue, 5.0%, 10/1/41   
  5,361,400 
   
  2,000,000 
NR/Ba1
New York State Dormitory Authority Revenue, 6.125%, 12/1/29   
  2,141,420 
   
  5,000,000 
AAA/Aaa
New York State Environmental Facilities Corp. Water Revenue, 5.0%, 6/15/33   
  5,015,500 
         
$ 24,772,604 
       
North Carolina - 2.5%
 
   
  5,010,000 
NR/NR
Charlotte North Carolina Special Facilities Revenue, 7.75%, 2/1/28   
$ 5,015,160 
   
  2,575,000 
NR/NR
Charlotte Special Facilities Revenue, 5.6%, 7/1/27   
  2,408,861 
         
$ 7,424,021 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
Ohio - 1.9%
 
   
  1,500,000 
NR/NR
Adams County Hospital Facilities Revenue, 6.5%, 9/1/36   
$ 1,225,185 
   
  5,000,000 
B-/B3
Buckeye Tobacco Settlement Financing Authority Revenue, 6.5%, 6/1/47   
  4,404,300 
         
$ 5,629,485 
       
Oklahoma - 1.9%
 
   
  2,220,000 
NR/WR
Tulsa Airports Improvement Trust, 6.25%, 6/1/20   
$ 2,225,550 
   
  3,000,000(c)
NR/WR
Tulsa Airports Improvement Trust, 7.75%, 6/1/35   
  3,212,040 
         
$ 5,437,590 
       
Oregon - 0.7%
 
   
  2,000,000 
A-/NR
Oregon State Facilities Authority Revenue, 5.25%, 10/1/40   
$ 2,059,400 
           
       
Pennsylvania - 5.8%
 
   
  5,000,000 
B-/Caa2
Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue, 6.0%, 6/1/31   
$ 4,988,850 
   
  5,000,000 
A-/A3
Pennsylvania Turnpike Commission, 5.3%, 12/1/41   
  5,192,050 
   
  1,000,000 
BB-/NR
Philadelphia Authority for Industrial Development, 6.5%, 6/15/33 (144A) 
  1,007,750 
   
  1,000,000 
BB-/NR
Philadelphia Authority for Industrial Development, 6.75%, 6/15/43 (144A) 
  1,009,060 
   
  5,000,000 
BB+/Ba1
Philadelphia Hospitals & Higher Education Facilities Authority Revenue, 5.0%, 7/1/34   
  4,676,050 
         
$ 16,873,760 
       
Puerto Rico - 1.7%
 
   
  5,000,000 
AA-/Aa3
Puerto Rico Sales Tax Financing Corp., 5.25%, 8/1/57   
$ 5,019,250 
           
       
Rhode Island - 3.7%
 
   
  1,385,000(e)
NR/NR
Central Falls Rhode Island Detention Facility Corp., Revenue, 7.25%, 7/15/35   
$ 1,101,269 
   
  1,500,000 
NR/NR
Rhode Island Health & Educational Building Corp., Revenue, 8.375%, 1/1/46   
  1,682,970 
   
  8,285,000 
BB/Ba1
Tobacco Settlement Financing Corp. Revenue, 6.25%, 6/1/42   
  8,202,150 
         
$ 10,986,389 
       
South Carolina - 4.7%
 
 
  8,000,000(d)
BBB+/Baa1
South Carolina Jobs Economic Development Authority Revenue, 6.375%, 8/1/34   
$ 8,042,535 
   
  4,400,000(f)
BBB/WR
Tobacco Settlement Revenue Management Authority, 6.375%, 5/15/30   
  5,672,436 
         
$ 13,714,971 
       
Tennessee - 2.9%
 
   
  5,000,000 
BBB+/Baa1
Johnson City Health & Educational Facilities Board Hospital Revenue, 6.5%, 7/1/38   
$ 5,510,150 
   
  3,000,000 
BBB+/NR
Sullivan County Health, Educational & Housing Facilities Board Revenue, 5.25%, 9/1/36   
  3,083,550 
         
$ 8,593,700 
       
Texas - 16.3%
 
   
  2,500,000 
BB+/Baa3
Central Texas Regional Mobility Authority Revenue, 6.75%, 1/1/41   
$ 2,731,850 
   
  2,663,453(a)(e)
NR/NR
Gulf Coast Industrial Development Authority Revenue, 7.0%, 12/1/36   
  24,504 
   
  10,000,000 
B/B2
Houston Texas Airport System Special Facilities Revenue, 6.75%, 7/1/29   
  10,004,400 
   
  460,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.0%, 5/1/16   
  340,685 
   
  1,000,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.0%, 5/1/21   
  718,300 
   
  1,350,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.125%, 5/1/26   
  953,613 
   
  3,000,000 
NR/NR
Jefferson County Industrial Development Corp., Revenue, 8.25%, 7/1/32   
  3,143,400 
   
  845,000 
NR/NR
Lubbock Health Facilities Development Corp., Nursing Home Revenue, 6.5%, 7/1/26   
  871,051 
   
  2,000,000 
NR/NR
Lubbock Health Facilities Development Corp., Nursing Home Revenue, 6.625%, 7/1/36   
  2,034,700 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
Texas - (continued)
 
   
  9,750,000 
BBB+/A3
North Texas Tollway Authority Transportation Revenue, 5.75%, 1/1/33   
  $10,577,873 
   
  1,711,000 
NR/Aa1
Panhandle Regional Housing Finance Corp., Multifamily Housing Revenue, 6.6%, 7/20/31   
  1,781,527 
   
  1,500,000 
NR/NR
Red River Health Facilities Development Corp., Revenue, 8.0%, 11/15/41   
  1,643,460 
   
  1,000,000 
A+/A1
Richardson Hospital Authority Revenue, 6.0%, 12/1/34   
  1,016,660 
   
  2,000,000 
AAA/Aaa
Richardson Independent School District Revenue, 5.0%, 2/15/38   
  2,163,440 
   
  4,000,000 
NR/NR
Sanger Industrial Development Corp., 8.0%, 7/1/38   
  4,078,200 
   
  1,000,000 
NR/NR
Tarrant County Cultural Education Facilities Finance Corp., Revenue, 8.125%, 11/15/39   
  1,077,180 
   
  1,500,000 
NR/NR
Tarrant County Cultural Education Facilities Finance Corp., Revenue, 8.25%, 11/15/44   
  1,618,125 
   
  1,000,000(a)(e)
NR/NR
Texas Midwest Public Facility Corp. Revenue, 9.0%, 10/1/30   
  520,670 
   
  2,500,000 
NR/NR
Travis County Health Facilities Development Corp., Revenue, 7.125%, 1/1/46   
  2,525,600 
         
$ 47,825,238 
       
Virginia - 0.8%
 
   
  2,000,000 
BBB+/Baa1
Washington County Industrial Development Authority Revenue, 7.75%, 7/1/38   
$ 2,320,340 
           
       
Washington - 4.3%
 
   
  1,025,000 
BBB/A3
Tobacco Settlement Authority Revenue, 6.5%, 6/1/26   
$ 1,036,255 
   
  1,500,000 
NR/Baa3
Washington State Health Care Facilities Authority Revenue, 5.5%, 12/1/39   
  1,521,825 
   
  2,000,000 
BBB/Baa2
Washington State Health Care Facilities Authority Revenue, 6.125%, 8/15/37   
  2,099,620 
   
  2,000,000 
BBB/Baa2
Washington State Health Care Facilities Authority Revenue, 6.25%, 8/15/42   
  2,103,540 
   
  1,100,000 
NR/NR
Washington State Housing Finance Commission Revenue, 6.75%, 10/1/47   
  1,006,874 
   
  5,000,000 
NR/NR
Washington State Housing Finance Committee Nonprofit Revenue, 5.625%, 1/1/27   
  4,761,450 
         
$ 12,529,564 
       
West Virginia - 1.0%
 
   
  750,000 
NR/NR
West Virginia Hospital Finance Authority Hospital Revenue Bonds, 9.125%, 10/1/41   
$ 921,240 
   
  2,000,000 
NR/NR
West Virginia Municipal Building Community College Facilities Revenue, 7.75%, 10/1/44   
  1,942,500 
         
$ 2,863,740 
       
Wisconsin - 3.3%
 
   
  2,900,000(g) (h)
NR/NR
Aztalan Township, 7.5%, 5/1/18   
$ – 
   
  2,500,000 
NR/NR
Wisconsin Public Finance Authority Continuing Care Retirement Community Revenue, 8.25%, 6/1/46   
  2,835,750 
   
  1,000,000(d)
NR/NR
Wisconsin State Health & Educational Facilities  Authority Revenue, 6.125%, 4/1/24   
  1,042,910 
   
  1,000,000(d)
NR/NR
Wisconsin State Health & Educational Facilities Authority Revenue, 6.25%, 4/1/34   
  1,043,850 
   
  1,500,000 
A+/A1
Wisconsin State Health & Educational Facilities Authority Revenue, 6.625%, 2/15/39   
  1,654,530 
   
  1,500,000 
NR/NR
Wisconsin State Public Finance Authority Revenue, 8.375%, 6/1/20   
  1,507,170 
   
  1,500,000 
NR/NR
Wisconsin State Public Finance Authority Revenue, 8.625%, 6/1/47   
  1,589,220 
         
$ 9,673,430 
       
TOTAL TAX EXEMPT OBLIGATIONS
 
       
(Cost $414,478,138)
$ 430,562,873 
           

   
Principal
Amount
USD ($)
S&P/Moody's
Rating 
(unaudited)            
 
Value
 
       
MUNICIPAL COLLATERALIZED DEBT OBLIGATION -  2.5% of Net Assets
 
   
  13,000,000(c)(e)
NR/NR
Non-Profit Preferred Funding Trust I, 6.75%, 9/15/37 (144A) 
$ 7,301,060 
           
       
TOTAL MUNICIPAL COLLATERALIZED DEBT OBLIGATION
 
       
(Cost  $13,000,000)
$ 7,301,060 
           
           
       
TOTAL INVESTMENTS IN SECURITIES - 149.3%
 
       
(Cost - $427,478,138) (i)(j)
$ 437,863,933 
       
OTHER ASSETS AND LIABILITIES -1.8%
$ 5,449,920 
       
PREFERRED SHARES AT REDEMPTION VALUE,
INCLUDING DIVIDENDS PAYABLE - (51.1)%
$ (150,003,949)
       
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS -100.0%
$ 293,309,904 
 


NR
 
Security not rated by S&P or Moody's.
WR
 
Rating withdrawn by either S&P or Moody's.
(144A)
 
Security is exempt from registration under Rule 144A of the Securities Act of 1933.  Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration. At June 30, 2013, the value of these securities amounted to $33,509,231, or 11.4% of total net assets applicable to common shareowners.
RIB
 
Residual Interest Bond.  The interest rate is subject to change periodically and inversely based upon prevailing market rates.  The interest rate shown is the rate at June 30, 2013
 


(a)
Security is in default and is non income producing.
(b)
Security issued with a zero coupon.  Income is recognized through accretion of discount.
(c)
The interest rate is subject to change periodically. The interest is shown is the rate at June 30, 2013.
(d)
Prerefunded bonds have been collateralized by U.S. Treasury or U.S. Government Agency securities which are held in escrow to pay interest and principal on the tax exempt issue and to retire the bonds in full at the earliest refunding date.
(e)
Indicates a security that has been deemed as illiquid.  As of June 30, 2013 the aggregate cost of illiquid securities in the Trust's portfolio was $27,052,163.  As of that date, the aggregate value of illiquid securities in the Trust's portfolio of $11,780,333 represented 4.0% of total net assets applicable to common shareowners.
(f)
Escrow to maturity.
(g)
Security is valued using fair value methods (other than prices supplied by independent pricing services).
(h)
The company is scheduled for approval of a reorganization plan.

 
 

 


(i)
The concentration of investments by type of obligation/ market sector is as follows :
 
 
   Insured
 
FSA
3.1
%
 
FSA-CR
2.2
 
 
AMBAC GO OF INSTN
2.1
 
 
BHAC-CR MBIA
1.8
 
 
AMBAC
0.6
 
 
GO OF INSTN
0.6
 
 
PSF-GTD
0.5
 
 
ASSURED GTY
0.4
 
 
GNMA COLL
0.4
 
 
NATL-RE
0.2
 
 
   Revenue Bonds:
 
Health Revenue
21.4
 
 
Facilities Revenue
13.6
 
 
Development Revenue
13.3
 
 
Tobacco Revenue
9.2
 
 
Other Revenue
7.3
 
 
Education Revenue
6.8
 
 
Transportation Revenue
5.9
 
 
Airport Revenue
5.5
 
 
Water Revenue
3.0
 
 
Pollution Control Revenue
2.1
 
 
Utilities Revenue
0.0
*
   
100.0
%
 

       *  Amount is less than 0.1%.
 
(j)
 
At June 30, 2013, the net unrealized gain on investments based on cost for federal tax purposes of $427,478,138 was as follows:
   
     
 
Aggregate gross unrealized gain for all investments in which there is an excess of value over tax cost
$ 34,646,319 
 
 
Aggregate gross unrealized loss for all investments in which there is an excess of tax cost over value
  (24,260,524)
 
     
 
Net unrealized gain
$ 10,385,795 
 
       
For financial reporting purposes net unrealized gain on investments was $ 10,385,795
and cost of investments aggregated  $427,478,138.
 
 
   
     
     
 
 

Various inputs are used in determining the value of the Trust's investments. These inputs are summarized in the three broad levels below.
 
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds
               credit risks, etc.).
Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining fair value of investments. .
 
Generally, equity securities are categorized as Level 1, fixed income securities and senior loans are categorized as Level 2, and securities valued using fair value methods (other than prices supplied by independent pricing services) as level 3.
 
The following is a summary of the inputs used as of June 30, 2013, in valuing the Trust's investments.
 
         
 
Level 1
Level 2  
Level 3
Total
 
Tax Exempt Obligations:
$ – 
 $430,562,873 
  $– 
 $430,562,873 
Municipal Collateralized Debt Obligation:
  – 
  7,301,060 
  – 
  7,301,060 
Total
$ – 
$ 437,863,933 
 $ – 
$437,863,933 
 

 
 

 



The following is a reconciliation of assets valued using significant unobservable inputs (level 3):
 
Balance
as of
3/31/13
Realized
gain
(loss)
Change in
Unrealized appreciation
(depreciation)
Purchases
Sales
Accrued
discounts/ premiums
Transfers 
in to  
Level 3*
Transfers 
out of
Level 3*
Balance
as of
6/30/13
 
                   
                   
Total
$ – 
$ – 
$ – 
$ – 
$ – 
$ – 
$ – 
$ – 
$ – 
   
 *   Transfers are calculated on the end of period value
** Includes security valued at $0.
During the three months ended June 30, 2013, there were no transfers between Levels 1, 2, and 3.
 


ITEM 2. CONTROLS AND PROCEDURES. (a) Disclose the conclusions of the registrant's principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) Disclose any change in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. There were no significant changes in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. (a) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)). Filed herewith. <PAGE> SIGNATURES [See General Instruction F] Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Pioneer Municipal High Income Advantage Trust By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr, President Date August 29, 2013 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ John F. Cogan, Jr. John F. Cogan, Jr., President Date August 29, 2013 By (Signature and Title)* /s/ Mark Bradley Mark Bradley, Treasurer Date August 29, 2013 * Print the name and title of each signing officer under his or her signature.