AllianceBernstein National Municipal Income Fund (NYSE:AFB) Issues Earnings Results

AllianceBernstein National Municipal Income Fund (NYSE:AFB) issued its earnings results on Friday. The investment management company reported $0.10 earnings per share for the quarter, reports.

AllianceBernstein National Municipal Income Fund Stock Up 0.1 %

NYSE AFB opened at $11.11 on Monday. The business has a 50 day moving average price of $10.83 and a 200 day moving average price of $10.82. AllianceBernstein National Municipal Income Fund has a 1-year low of $8.95 and a 1-year high of $11.15.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were issued a $0.0327 dividend. This represents a $0.39 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, June 6th.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 34,874 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average price of $11.05 per share, for a total transaction 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 141,144 shares of company stock worth $1,541,501.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in AFB. AQR Arbitrage LLC raised its position in AllianceBernstein National Municipal Income Fund by 44.5% during the third quarter. AQR Arbitrage LLC now owns 236,082 shares of the investment management company’s stock worth $2,205,000 after acquiring an additional 72,700 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of AllianceBernstein National Municipal Income Fund by 47.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 140,623 shares of the investment management company’s stock worth $1,313,000 after purchasing an additional 45,369 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund during the 3rd quarter worth approximately $118,000. Blue Bell Private Wealth Management LLC purchased a new stake in AllianceBernstein National Municipal Income Fund in the 4th quarter valued at approximately $107,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in AllianceBernstein National Municipal Income Fund during the 4th quarter valued at $27,000.

About AllianceBernstein National Municipal Income Fund

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.