Saba Capital Management, L.P. Buys 34,874 Shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. acquired 34,874 shares of AllianceBernstein National Municipal Income Fund stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $11.05 per share, with a total value of $385,357.70. Following the completion of the transaction, the insider now directly owns 3,149,020 shares in the company, valued at approximately $34,796,671. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, June 7th, Saba Capital Management, L.P. acquired 6,099 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average cost of $10.82 per share, with a total value of $65,991.18.
• On Wednesday, May 29th, Saba Capital Management, L.P. bought 7,151 shares of AllianceBernstein National Municipal Income Fund stock. The shares were bought at an average cost of $10.75 per share, with a total value of $76,873.25.
• On Thursday, May 23rd, Saba Capital Management, L.P. bought 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The shares were bought at an average cost of $10.84 per share, with a total value of $155,868.36.
• On Monday, May 20th, Saba Capital Management, L.P. bought 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The shares were bought at an average cost of $10.90 per share, with a total value of $735,314.00.
• On Wednesday, May 15th, Saba Capital Management, L.P. purchased 11,181 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average price of $10.92 per share, for a total transaction of $122,096.52.

AllianceBernstein National Municipal Income Fund Stock Performance

Shares of AFB stock opened at $11.03 on Thursday. AllianceBernstein National Municipal Income Fund, Inc. has a 12 month low of $8.95 and a 12 month high of $11.14. The firm’s 50 day moving average is $10.80 and its 200 day moving average is $10.81.

AllianceBernstein National Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 6th were paid a $0.0327 dividend. This represents a $0.39 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, June 6th.

Institutional Trading of AllianceBernstein National Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of AFB. Nations Financial Group Inc. IA ADV raised its position in shares of AllianceBernstein National Municipal Income Fund by 3.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 48,970 shares of the investment management company’s stock valued at $531,000 after buying an additional 1,830 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the 4th quarter valued at $27,000. Wolverine Asset Management LLC raised its position in shares of AllianceBernstein National Municipal Income Fund by 48.6% during the 4th quarter. Wolverine Asset Management LLC now owns 8,953 shares of the investment management company’s stock valued at $97,000 after buying an additional 2,927 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of AllianceBernstein National Municipal Income Fund by 79.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 17,800 shares of the investment management company’s stock valued at $196,000 after buying an additional 7,900 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of AllianceBernstein National Municipal Income Fund by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 844,076 shares of the investment management company’s stock valued at $9,150,000 after buying an additional 11,087 shares in the last quarter.

AllianceBernstein National Municipal Income Fund Company Profile

AllianceBernstein National Municipal Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax.