mhiatsoi.htm
                                                             OMB APPROVAL
                                                     OMB Number:       3235-0578
                                                     Expires:  April 30, 2013
                                                     Estimated average burden
                                                     hours per response.....
                                                     5.6

                                 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:  January 31, 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






                                 | December 31, 2012

 
Ticker Symbols:  MAV
 



 


   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
TAX EXEMPT OBLIGATIONS -  137.9% of Net Assets
 
       
Alabama - 1.5%
 
   
  2,500,000 
B-/B2
Alabama Industrial Development Authority Solid Waste Disposal Revenue, 6.45%, 12/1/23   
$ 2,495,950 
   
  2,500,000 
NR/NR
Huntsville-Redstone Village Special Care Facilities Financing Authority Nursing Home Revenue, 5.5%, 1/1/43   
  2,397,375 
         
$ 4,893,325 
       
Arizona - 3.2%
 
   
  5,000,000 
NR/NR
Casa Grande Industrial Development Authority Hospital Revenue, 7.625%, 12/1/29   
$ 5,193,550 
   
  1,487,000 
NR/Baa3
Pima County Industrial Development Authority, 6.75%, 7/1/31   
  1,493,469 
   
  2,640,000 
NR/NR
Pima County Industrial Development Authority, 7.0%, 1/1/38   
  2,737,627 
   
  1,000,000 
NR/NR
San Luis Facility Development Corp., 7.25%, 5/1/27   
  958,690 
         
$ 10,383,336 
       
California - 19.8%
 
   
  11,990,000 
CCC/NR
California County Tobacco Securitization Agency Revenue, 5.25%, 6/1/46   
$ 8,733,156 
   
  1,450,000 
NR/NR
California Enterprise Development Authority Recovery Zone Facility Revenue, 8.5%, 4/1/31   
  1,674,793 
   
  5,000,000 
NR/Baa3
California Pollution Control Financing Authority, 5.0%, 7/1/37   
  5,181,150 
   
  2,425,000 
A-/A1
California State General Obligation Various Purpose, 5.75%, 4/1/31   
  2,861,379 
   
  757,342(a)
NR/NR
California Statewide Communities Development Authority Environmental Facilities Revenue, 9.0%, 12/1/38   
  6,695 
   
  4,000,000 
BB/NR
California Statewide Communities Development Authority Revenue Higher Education Revenue, 7.25%, 10/1/38 (144A) 
  4,019,080 
   
  2,680,000(b)
AA+/Aaa
Golden State Tobacco Securitization Corp., 6.75%, 6/1/39   
  2,752,789 
   
  3,140,000 
AA-/WR
Lehman Municipal Trust Receipts Revenue, RIB, 10.946%, 9/20/28 (144A) 
  4,179,654 
   
  8,575,000(c)
AA-/NR
Lehman Municipal Trust Receipts, GO, 10.853%, 7/28/31   
  10,582,150 
   
  1,500,000 
A-/NR
Madera Irrigation Financing Authority Water Revenue, 6.25%, 1/1/31   
  1,729,995 
   
  1,500,000 
A-/NR
Madera Irrigation Financing Authority Water Revenue, 6.5%, 1/1/40   
  1,721,070 
   
  2,500,000 
A-/A2
San Jose California Airport Revenue, 5.0%, 3/1/37   
  2,637,150 
   
  7,000,000 
B-/Caa1
Tobacco Securitization Authority of Northern California, Revenue, 5.375%, 6/1/38   
  6,144,250 
   
  10,500,000 
AA-/NR
University of California, RIB, 11.163%, 5/15/32   
  11,319,945 
         
$ 63,543,256 
       
Colorado - 0.3%
 
   
  1,000,000 
NR/NR
Kremmling Memorial Hospital District Certificate of Participation, 7.125%, 12/1/45   
$ 1,114,240 
           
       
Connecticut - 0.3%
 
   
  1,000,000 
NR/NR
Hamden Connecticut Facility Revenue, 7.75%, 1/1/43   
$ 1,098,240 
           
       
District of Colombia - 3.1%
 
   
  2,700,000 
BBB/Baa1
District of Columbia Tobacco Settlement Financing Corp., 6.5%, 5/15/33   
$ 3,156,354 
   
  6,825,000 
BBB/Baa1
District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40   
  6,893,318 
         
$ 10,049,672 
       
Florida - 4.7%
 
   
  1,500,000 
NR/NR
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/41   
$ 1,760,700 
   
  1,500,000 
NR/NR
Alachua County Health Facilities Authority Revenue, 8.125%, 11/15/46   
  1,760,700 
   
  500,000 
NR/B1
Capital Trust Agency Revenue Bonds, 7.75%, 1/1/41   
  563,410 
   
  1,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 6.0%, 9/15/40   
  1,083,150 
   
  2,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 7.625%, 6/15/41   
  2,338,420 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
Florida - (continued)
 
   
  1,000,000 
NR/NR
Florida Development Finance Corp., Educational Facilities Revenue, 7.75%, 6/15/42   
  1,135,790 
   
  1,980,000 
NR/NR
Hillsborough County Industrial Development Authority, 6.75%, 7/1/29   
  1,981,762 
   
  1,000,000(b)
NR/WR
Hillsborough County Industrial Development Authority Revenue, 8.0%, 8/15/32   
  1,419,020 
   
  2,500,000 
A/A2
Miami-Dade County Florida Aviation Revenue, 5.5%, 10/1/41   
  2,849,700 
         
$ 14,892,652 
       
Georgia - 4.3%
 
   
  5,210,000 
AA-/WR
Atlanta Georgia Water and Wastewater Revenue, RIB, 10.946%, 1/30/13 (144A) 
$ 5,998,742 
   
  1,000,000 
B-/NR
Clayton County Development Authority Revenue, 9.0%, 6/1/35   
  1,122,930 
   
  900,000 
NR/NR
DeKalb County Georgia Hospital Authority Revenue, 6.0%, 9/1/30   
  1,064,709 
   
  750,000 
NR/NR
DeKalb County Georgia Hospital Authority Revenue, 6.125%, 9/1/40   
  878,587 
   
  3,360,000 
NR/NR
Fulton County Residential Care Facilities for the Elderly Authority, 7.0%, 7/1/29   
  2,998,867 
   
  1,650,000 
NR/NR
Savannah Georgia Economic Development Authority Revenue, 7.4%, 1/1/34   
  1,690,343 
         
$ 13,754,178 
       
Guam - 1.8%
 
   
  1,000,000 
B/NR
Guam Government of Department Education Certificates of Participation, 6.625%, 12/1/30   
$ 1,093,660 
   
  4,400,000(b)
AA+/B2
Northern Mariana Islands, 6.75%, 10/1/33   
  4,602,136 
         
$ 5,695,796 
       
Idaho - 1.1%
 
   
  2,000,000 
A-/Baa1
Power County Industrial Development Corp., Revenue, 6.45%, 8/1/32   
$ 2,003,300 
   
  1,500,000 
A-/Baa1
Power County Pollution Control Revenue, 5.625%, 10/1/14   
  1,501,425 
         
$ 3,504,725 
       
Illinois - 6.6%
 
   
  1,000,000 
NR/Baa2
City of Country Club Hills, GO, 5.0%, 12/1/31   
$ 1,041,330 
   
  45,000 
NR/NR
Illinois Finance Authority, 7.0%, 11/15/17   
  44,940 
   
  165,000 
NR/NR
Illinois Finance Authority, 7.0%, 11/15/27   
  164,776 
   
  1,450,000 
A+/A1
Illinois Finance Authority Revenue, 5.5%, 4/1/39   
  1,600,321 
   
  1,605,000 
AA-/Aa3
Illinois Finance Authority Revenue, 6.0%, 8/15/25   
  1,704,687 
   
  1,000,000(a)
NR/NR
Illinois Finance Authority Revenue, 6.0%, 11/15/27   
  350,000 
   
  280,000 
BBB+/NR
Illinois Finance Authority Revenue, 6.0%, 8/15/38   
  317,176 
   
  2,000,000 
AA+/Aa2
Illinois Finance Authority Revenue, 6.0%, 8/15/39   
  2,340,820 
   
  2,500,000 
NR/NR
Illinois Finance Authority Revenue, 6.125%,
11/15/25   
  2,591,050 
   
  6,000,000 
NR/NR
Illinois Finance Authority Revenue, 8.25%, 5/15/45   
  6,446,880 
   
  2,500,000 
NR/NR
Illinois Finance Authority Revenue, 8.25%, 2/15/46   
  2,726,675 
   
  2,170,000 
NR/NR
Southwestern Illinois Development Authority Revenue, 5.625%, 11/1/26   
  1,841,744 
         
$ 21,170,399 
       
Indiana - 0.9%
 
   
  250,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.0%, 11/15/32   
$ 269,247 
   
  750,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.125%, 11/15/42   
  807,465 
   
  500,000 
NR/NR
City of Carmel Indiana Nursing Home Revenue, 7.125%, 11/15/47   
  536,390 
   
  250,000 
NR/Baa3
East Chicago Indiana Exempt Facilities Revenue, 7.0%, 1/1/14   
  251,355 
   
  1,805,000 
NR/NR
Vincennes Industrial Economic Development Revenue, 6.25%, 1/1/24   
  1,105,563 
         
$ 2,970,020 
       
Kansas - 0.3%
 
   
  1,000,000 
NR/A2
Kansas Development Finance Authority Revenue, 5.0%, 5/15/35   
$ 1,085,570 
           
       
Louisiana - 5.9%
 
   
  5,000,000 
BBB-/Baa2
Jefferson Parish Hospital Service Revenue, 6.375%, 7/1/41   
$ 5,860,400 
   
  2,500,000 
BBB-/Baa3
Louisiana Local Government Environmental Facilities & Community Development Authority Revenue, 6.75%, 11/1/32   
  2,806,250 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
Louisiana - (continued)
 
   
  6,000,000 
NR/Baa1
Louisiana Public Facilities Authority Revenue, 5.5%, 5/15/47   
$  6,375,540 
   
  750,000 
BBB-/NR
Opelousas Louisiana General Hospital Authority Revenue, 5.75%, 10/1/23   
  768,322 
   
  2,915,000 
A-/A3
Tobacco Settlement Financing Corp. Revenue, 5.875%, 5/15/39   
  2,973,271 
         
$ 18,783,783 
       
Maine - 0.6%
 
   
  1,500,000 
NR/Baa3
Maine Health & Higher Educational Facilities Authority Revenue, 7.5%, 7/1/32   
$ 1,903,680 
           
       
Maryland - 1.7%
 
   
  460,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 5.25%, 1/1/27   
$ 455,957 
   
  1,250,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 5.3%, 1/1/37   
  1,187,863 
   
  1,250,000 
NR/Baa3
Maryland Health & Higher Educational Facilities Authority Revenue, 5.75%, 7/1/38   
  1,349,362 
   
  2,000,000 
NR/NR
Maryland Health & Higher Educational Facilities Authority Revenue, 6.25%, 1/1/45   
  2,299,600 
         
$ 5,292,782 
       
Massachusetts - 9.1%
 
   
  595,000 
BB/NR
Massachusetts Development Finance Agency Revenue, 5.25%, 10/1/18   
$ 595,179 
   
  8,000,000 
A/WR
Massachusetts Development Finance Agency Revenue, 5.75%, 1/1/42   
  10,641,600 
   
  1,845,000 
NR/NR
Massachusetts Development Finance Agency Revenue, 7.1%, 7/1/32   
  1,845,849 
   
  2,195,000 
BBB-/Baa3
Massachusetts Health & Educational Facilities Authority Revenue, 5.375%, 7/15/28   
  2,196,185 
   
  2,000,000 
AAA/Aaa
Massachusetts Health & Educational Facilities Authority Revenue, 5.5%, 7/1/32   
  2,894,340 
   
  3,420,000(a)
NR/NR
Massachusetts Health & Educational Facilities Authority Revenue, 6.5%, 1/15/38   
  17,647 
   
  10,760,000 
AA-/Aa3
Massachusetts Housing Finance Agency Revenue, 5.35%, 12/1/45   
  10,801,749 
         
$ 28,992,549 
       
Michigan - 1.7%
 
   
  2,000,000 
NR/Ba1
Flint Michigan Hospital Building Authority Revenue, 7.375%, 7/1/35   
$ 2,343,160 
   
  2,235,000 
BB+/NR
Kent Hospital Finance Authority Revenue, 6.25%, 7/1/40   
  2,323,842 
   
  675,000 
NR/NR
Michigan Public Educational Facilities Authority Revenue, 7.0%, 10/1/36   
  697,079 
         
$ 5,364,081 
       
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   
$ 1,191,310 
           
       
Missouri - 1.3%
 
   
  1,000,000 
NR/NR
Kansas City Tax Increment Financing Commission Tax Increment Revenue, 6.5%, 6/1/25   
$ 1,038,890 
   
  1,500,000(a)(d)
NR/Ca
St. Louis Industrial Development Authority Revenue, 7.2%, 12/15/28   
  569,640 
   
  6,640,000(a)(d)
NR/Ca
St. Louis Industrial Development Authority Revenue, 7.25%, 12/15/35   
  2,521,606 
         
$ 4,130,136 
       
Montana - 0.7%
 
   
  2,445,000(e) 
NR/NR
Hardin Increment Industrial Infrastructure Development Revenue, 0.0%, 9/1/31   
$ 2,079,155 
   
  1,000,000(a)(d)
NR/NR
Two Rivers Authority Inc., Project Revenue, 7.375%, 11/1/27   
  148,460 
         
$ 2,227,615 
       
Nevada - 1.5%
 
   
  4,500,000 
A-/A3
Reno Nevada Hospital Revenue, 5.25%, 6/1/41   
$ 4,734,810 
           
       
New Hampshire - 0.4%
 
   
  1,125,000 
NR/NR
New Hampshire Health & Education Facilities Authority Revenue, 5.875%, 7/1/34   
$ 1,165,230 
           
       
New Jersey - 12.0%
 
   
  2,500,000 
NR/NR
Burlington County New Jersey Bridge Commission Revenue, 5.625%, 1/1/38   
$ 2,597,475 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
New Jersey - (continued)
 
   
  1,500,000 
NR/NR
New Jersey Economic Development Authority Revenue, 10.5%, 6/1/32 (144A) 
$  1,650,660 
   
  7,500,000 
B/B3
New Jersey Economic Development Authority Revenue, 5.75%, 9/15/27   
  7,729,875 
   
  3,500,000 
AA-/WR
New Jersey State Turnpike Authority Transportation Revenue, RIB, 10.569%, 7/1/23 (144A) 
  6,419,665 
   
  15,375,000(e)
AA+/Aa1
New Jersey Transportation Trust Fund Authority Revenue, 0.0%, 12/15/27   
  8,730,540 
   
  1,000,000(b)
AA+/Aaa
Tobacco Settlement Financing Corp., Revenue, 6.25%, 6/1/43   
  1,025,080 
   
  5,000,000(b)
AA+/Aaa
Tobacco Settlement Financing Corp., Revenue, 7.0%, 6/1/41   
  5,140,800 
   
  2,000,000 
B-/B1
Tobacco Settlement Financing Corp., Revenue, 4.625%, 6/1/26   
  1,940,000 
   
  3,250,000(b)
AA+/Aaa
Tobacco Settlement Financing Corp., Revenue, 6.75%, 6/1/39   
  3,338,042 
         
$ 38,572,137 
       
New York - 8.1%
 
   
  1,730,000 
NR/NR
Dutchess County Industrial Development Agency, 7.5%, 3/1/29   
$ 1,776,329 
   
  7,000,000 
BB/B2
New York City Industrial Development Agency Revenue, 5.25%, 12/1/32   
  7,000,140 
   
  3,950,000 
BB/B2
New York City Industrial Development Agency Revenue, 7.625%, 12/1/32   
  4,049,106 
   
  5,000,000 
AAA/Aaa
New York State Dormitory Authority Revenue, 5.0%, 10/1/41   
  5,829,150 
   
  2,000,000 
NR/Ba1
New York State Dormitory Authority Revenue, 6.125%, 12/1/29   
  2,230,780 
   
  5,000,000 
AAA/Aaa
New York State Environmental Facilities Corp. Water Revenue, 5.0%, 6/15/33   
  5,094,150 
         
$ 25,979,655 
       
North Carolina - 1.6%
 
   
  5,010,000 
NR/NR
Charlotte North Carolina Special Facilities Revenue, 7.75%, 2/1/28   
$ 5,017,315 
           
       
Ohio - 1.9%
 
   
  1,500,000 
NR/NR
Adams County Hospital Facilities Revenue, 6.5%, 9/1/36   
$ 1,190,970 
   
  5,000,000 
B-/B3
Buckeye Tobacco Settlement Financing Authority Revenue, 6.5%, 6/1/47   
  4,865,800 
         
$ 6,056,770 
       
Oklahoma - 1.7%
 
   
         2,220,000
NR/WR
Tulsa Municipal Airport Trust Revenue,
6.25%, 6/1/20   
$ 2,225,794 
   
  3,000,000(c)
NR/WR
Tulsa Municipal Airport Trust Revenue,
7.75%, 6/1/35   
  3,300,600 
         
$ 5,526,394 
       
Oregon - 0.7%
 
   
  2,000,000 
A-/NR
Oregon State Facilities Authority Revenue, 5.25%, 10/1/40   
$ 2,198,620 
           
       
Pennsylvania - 5.5%
 
   
  2,000,000 
BBB-/Ba1
Pennsylvania Economic Development Financing Authority Revenue, 4.625%, 12/1/18   
$ 2,032,660 
   
  5,000,000 
B-/Caa2
Pennsylvania Economic Development Financing Authority Solid Waste Disposal Revenue,
6.0%, 6/1/31   
  5,000,150 
   
  5,000,000 
A-/A3
Pennsylvania Turnpike Commission, 5.3%, 12/1/41   
  5,509,100 
   
  5,000,000 
BBB-/Ba1
Philadelphia Hospitals & Higher Education Facilities Authority Revenue, 5.0%, 7/1/34   
  5,111,050 
         
$ 17,652,960 
       
Rhode Island - 3.6%
 
   
  1,385,000(d)
NR/NR
Central Falls Rhode Island Detention Facility Corp., Revenue, 7.25%, 7/15/35   
$ 1,193,399 
   
  1,500,000 
NR/NR
Rhode Island Health & Educational Building Corp., Revenue, 8.375%, 1/1/46   
  1,782,510 
   
  8,285,000 
BB/Ba1
Tobacco Settlement Financing Corp., Revenue, 6.25%, 6/1/42   
  8,396,930 
         
$ 11,372,839 
       
South Carolina - 4.6%
 
   
  8,000,000(b)
BBB+/Baa1
South Carolina Jobs Economic Development Authority Revenue, 6.375%, 8/1/34   
$ 8,281,698 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
South Carolina - (continued)
 
   
  4,400,000(f)
BBB/WR
Tobacco Settlement Revenue Management Authority, 6.375%, 5/15/30   
$   6,385,632 
         
$ 14,667,330 
       
Tennessee - 2.9%
 
   
  5,000,000 
BBB+/Baa1
Johnson City Health & Educational Facilities Board Hospital Revenue, 6.5%, 7/1/38   
$ 6,011,200 
   
  3,000,000 
BBB+/NR
Sullivan County Health, Educational & Housing Facilities Board Revenue, 5.25%, 9/1/36   
  3,163,170 
         
$ 9,174,370 
       
Texas - 15.1%
 
   
  2,400,000 
BB+/Ba1
Central Texas Regional Mobility Authority Revenue, 6.75%, 1/1/41   
$ 2,798,016 
   
  2,663,453(a)(d)
NR/NR
Gulf Coast Industrial Development Authority Revenue, 7.0%, 12/1/36   
  24,610 
   
  10,000,000 
B/B3
Houston Texas Airport System Special Facilities Revenue, 6.75%, 7/1/29   
  10,040,700 
   
  595,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.0%, 5/1/16   
  580,554 
   
  1,000,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.0%, 5/1/21   
  907,870 
   
  1,350,000 
NR/NR
IAH Public Facility Corp., Facilities Revenue, Series 2006, 6.125%, 5/1/26   
  1,187,312 
   
  3,000,000 
NR/NR
Jefferson County Industrial Development Corp., Revenue, 8.25%, 7/1/32   
  3,069,240 
   
  2,240,000 
AA-/Aa3
Lower Colorado River Authority Power Revenue, 5.0%, 5/15/31   
  2,243,494 
   
  845,000 
NR/NR
Lubbock Health Facilities Development Corp. Nursing Home Revenue, 6.5%, 7/1/26   
  892,903 
   
  2,000,000 
NR/NR
Lubbock Health Facilities Development Corp., Nursing Home Revenue, 6.625%, 7/1/36   
  2,094,440 
   
  9,750,000 
BBB+/A3
North Texas Tollway Authority Transportation Revenue, 5.75%, 1/1/33   
  10,880,805 
   
  1,711,000 
NR/Aaa
Panhandle Regional Housing Finance Corp., Multifamily Housing Revenue, 6.6%, 7/20/31   
  1,799,715 
   
  1,500,000 
NR/NR
Red River Health Facilities Development Corp., Revenue, 8.0%, 11/15/41   
  1,746,585 
   
  1,000,000 
A+/A1
Richardson Hospital Authority Revenue, 6.0%, 12/1/34   
  1,024,240 
   
  3,000,000 
NR/NR
Sanger Industrial Development Corp., Revenue, 8.0%, 7/1/38   
  3,205,650 
   
  1,000,000 
NR/NR
Tarrant County Cultural Education Facilities Finance Corp., Revenue, 8.125%, 11/15/39   
  1,118,130 
   
  1,500,000 
NR/NR
Tarrant County Cultural Education Facilities Finance Corp., Revenue, 8.25%, 11/15/44   
  1,683,150 
   
  1,000,000(a)(d)
D/NR
Texas Midwest Public Facility Corp. Revenue, 9.0%, 10/1/30   
  407,500 
   
  2,500,000 
NR/NR
Travis County Health Facilities Development Corp., Revenue, 7.125%, 1/1/46   
  2,672,150 
         
$ 48,377,064 
       
Virginia - 0.8%
 
   
  2,000,000 
BBB+/Baa1
Washington County Industrial Development Authority Revenue, 7.75%, 7/1/38   
$ 2,484,580 
           
       
Washington - 4.2%
 
   
  1,125,000 
BBB/A3
Tobacco Settlement Authority Revenue,
6.5%, 6/1/26   
$ 1,158,728 
   
  1,500,000 
NR/Baa3
Washington State Health Care Facilities Authority Revenue, 5.5%, 12/1/39   
  1,606,125 
   
  2,000,000 
BBB/Baa2
Washington State Health Care Facilities Authority Revenue, 6.125%, 8/15/37   
  2,198,880 
   
  2,000,000 
BBB/Baa2
Washington State Health Care Facilities Authority Revenue, 6.25%, 8/15/42   
  2,198,700 
   
  5,000,000 
NR/NR
Washington State Housing Finance Committee Nonprofit Revenue, 5.625%, 1/1/27   
  5,066,850 
   
  1,100,000 
NR/NR
Washington State Housing Finance Committee Nonprofit Revenue, 6.75%, 10/1/47   
  1,098,383 
         
$ 13,327,666 
       
West Virginia - 0.9%
 
   
  2,000,000 
NR/NR
City of Philippi, 7.75%, 10/1/44   
$ 2,049,060 
   
  750,000 
NR/NR
West Virginia Hospital Finance Authority Hospital Revenue, 9.125%, 10/1/41   
  947,693 
         
$ 2,996,753 

   
Principal
Amount
USD ($)
S&P/Moody's
Rating            
 
Value
 
       
Wisconsin - 3.1%
 
   
  2,900,000(g)
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   
  3,008,575 
   
  1,000,000(b)
NR/NR
Wisconsin State Health & Educational Facilities  Authority Revenue, 6.125%, 4/1/24   
  1,068,230 
   
  1,000,000(b)
NR/NR
Wisconsin State Health & Educational Facilities Authority Revenue, 6.25%, 4/1/34   
  1,069,790 
   
  1,500,000 
A+/A1
Wisconsin State Health & Educational Facilities Authority Revenue, 6.625%, 2/15/39   
  1,761,645 
   
  1,500,000 
NR/NR
Wisconsin State Public Finance Authority Revenue, 8.375%, 6/1/20   
  1,518,660 
   
  1,500,000 
NR/NR
Wisconsin State Public Finance Authority Revenue, 8.625%, 6/1/47   
  1,617,615 
         
$ 10,044,515 
       
TOTAL TAX EXEMPT OBLIGATIONS
 
       
(Cost $395,863,796)
$ 441,390,353 
           
       
MUNICIPAL COLLATERALIZED DEBT OBLIGATION -  2.6% of Net Assets
 
   
  13,000,000(c)(d)
NR/NR
Non-Profit Preferred Funding Trust I, 6.75%, 9/15/37 (144A) 
$ 8,273,850 
           
       
TOTAL MUNICIPAL COLLATERALIZED DEBT OBLIGATION
 
       
(Cost  $13,000,000)
$ 8,273,850 
           
       
TAX EXEMPT MONEY MARKET MUTUAL FUND -  3.4% of Net Assets
 
   
  11,000,000 
NR/NR
BlackRock Liquidity Funds MuniFund Portfolio     
$ 11,000,000 
           
       
TOTAL TAX EXEMPT MONEY MARKET MUTUAL FUND
 
       
(Cost  $11,000,000)
$ 11,000,000 
           
           
       
TOTAL INVESTMENTS IN SECURITIES - 143.9%
 
       
(Cost - $419,863,796) (h)(i)
$ 460,664,203 
       
OTHER ASSETS AND LIABILITIES -3.0%
$ 9,562,203 
       
PREFERRED SHARES AT REDEMPTION VALUE,
INCLUDING DIVIDENDS PAYABLE - (46.8)%
$ (150,000,000)
       
NET ASSETS APPLICABLE TO
COMMON SHAREOWNERS -100.0%
$ 320,226,406 
 


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 December 31, 2012, the value of these securities amounted to $30,541,651, or 9.5% 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 December 31, 2012.
GO
 
General Obligation.
 


(a)
Security is in default and is non income producing.
(b)
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.
(c)
The interest rate is subject to change periodically. The interest is shown is the rate at December 31, 2012.
(d)
Indicates a security that has been deemed as illiquid.  The aggregate cost of illiquid securities is $27,047,644.  The aggregate fair value of $13,139,065 represents 4.1% of total net assets applicable to common shareowners.
(e)
Security issued with a zero coupon.  Income is recognized through accretion of discount.
(f)
Escrow to maturity.
(g)
Security is valued using fair value methods.

 
 

 


(h)
The concentration of investments by type of obligation/market sector is as follows :
 
 
   Insured
 
FSA
6.1
%
 
AMBAC GO OF INSTN
2.3
 
 
FSA-CR
2.3
 
 
BHAC-CR MBIA
1.9
 
 
AMBAC
1.0
 
 
GO OF INSTN
0.6
 
 
AGM
0.5
 
 
GNMA COLL
0.4
 
 
ASSURED GTY
0.4
 
 
NATL-RE
0.2
 
 
   Revenue Bonds:
 
Health Revenue
18.9
 
 
Tobacco Revenue
13.7
 
 
Facilities Revenue
13.7
 
 
Development Revenue
11.2
 
 
Other Revenue
8.6
 
 
Airport Revenue
4.8
 
 
Education Revenue
4.8
 
 
Transportation Revenue
3.6
 
 
Water Revenue
3.0
 
 
Pollution Control Revenue
2.0
 
 
Utilities Revenue
0.0
*
   
100.0
%
 


(i)
At December 31, 2012, the net unrealized gain on investments based on cost for federal tax purposes of $419,863,796 was as follows:
 
   
 
Aggregate gross unrealized gain for all investments in which there is an excess of value over tax cost
$ 58,518,413 
 
Aggregate gross unrealized loss for all investments in which there is an excess of tax cost over value
  (17,718,006)
   
 
Net unrealized gain
$ 40,800,407 
     
For financial reporting purposes net unrealized gain on investments was
$ 40,800,407 and cost of investments aggregated  $419,863,796.
 
 


 
 

 

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 December 31, 2012, in valuing the Trust's investments.
           
                                   
                                   
   
Level 1
   
Level 2
 
Level 3
   
Total
           
                                   
Tax exempt obligations
  $     $ 441,390,353     $     $ 441,390,353            
Municipal collateralized debt obligation
          8,273,850             8,273,850            
Tax exempt money market mutual fund
    11,000,000                   11,000,000            
Total
  $ 11,000,000     $ 449,664,203     $     $ 460,664,203            
                                           
The following is a reconciliation of assets valued using significant unobservable inputs (level 3):
                   
   
Balance
   
Realized
   
Change in
   
Purchases
 
Sales
Accrued
Transfers
Transfers
Balance
   
as of
   
gain
   
Unrealized
           
discounts/
in to
out of
as of
   
3/31/2012
   
(loss)
   
appreciation
           
premiums
Level 3*
Level 3*
12/31/12
                   
(depreciation)
                   
Tax exempt obligations
        $     $     $   $–
$– $– $–**
Total
        $     $     $   $–
$– $– $–**
                                           
*  Transfers are calculated on the end of period value.
                                   
**  Azatlan Township is fair valued at $0.
                                         


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 March 1, 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 March 1, 2013 By (Signature and Title)* /s/ Mark Bradley Mark Bradley, Treasurer Date March 1, 2013 * Print the name and title of each signing officer under his or her signature.