Wolverine Asset Management LLC Has $213,000 Stake in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB)

Wolverine Asset Management LLC cut its stake in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 67.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,182 shares of the investment management company’s stock after selling 39,233 shares during the quarter. Wolverine Asset Management LLC’s holdings in AllianceBernstein National Municipal Income Fund were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund in the first quarter worth approximately $124,000. Inscription Capital LLC bought a new position in AllianceBernstein National Municipal Income Fund during the 1st quarter worth approximately $131,000. Flow State Investments L.P. acquired a new position in shares of AllianceBernstein National Municipal Income Fund in the 4th quarter worth approximately $171,000. Blue Bell Private Wealth Management LLC boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 79.8% in 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 purchasing an additional 7,900 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its position in shares of AllianceBernstein National Municipal Income Fund by 3.9% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 48,970 shares of the investment management company’s stock worth $531,000 after buying an additional 1,830 shares during the period.

AllianceBernstein National Municipal Income Fund Stock Performance

AFB stock opened at $11.46 on Friday. The company’s fifty day simple moving average is $11.31 and its 200 day simple moving average is $10.99. AllianceBernstein National Municipal Income Fund, Inc. has a 12-month low of $8.95 and a 12-month high of $11.55.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last announced its quarterly earnings data on Friday, June 28th. The investment management company reported $0.10 earnings per share (EPS) for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.0359 per share. This is an increase from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03. The ex-dividend date is Thursday, September 5th. This represents a $0.43 annualized dividend and a dividend yield of 3.76%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. bought 34,874 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were acquired at an average cost of $11.05 per share, with a total value of $385,357.70. Following the completion of the purchase, the insider now directly owns 3,149,020 shares in the company, valued at $34,796,671. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AllianceBernstein National Municipal Income Fund 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.