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

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. purchased 34,874 shares of AllianceBernstein National Municipal Income Fund stock in a transaction on Monday, June 24th. The stock was bought at an average price of $11.05 per share, for a total transaction of $385,357.70. Following the transaction, the insider now directly owns 3,149,020 shares in the company, valued at approximately $34,796,671. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock 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. purchased 6,099 shares of AllianceBernstein National Municipal Income Fund stock. The stock was bought at an average price of $10.82 per share, for a total transaction of $65,991.18.
• On Wednesday, May 29th, Saba Capital Management, L.P. purchased 7,151 shares of AllianceBernstein National Municipal Income Fund stock. The stock was bought at an average price of $10.75 per share, for a total transaction of $76,873.25.
• On Thursday, May 23rd, Saba Capital Management, L.P. purchased 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The stock was bought at an average price of $10.84 per share, for a total transaction of $155,868.36.
• On Monday, May 20th, Saba Capital Management, L.P. purchased 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The stock was bought at an average price of $10.90 per share, for a total transaction 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 stock was bought 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 AllianceBernstein National Municipal Income Fund stock opened at $11.05 on Wednesday. AllianceBernstein National Municipal Income Fund, Inc. has a one year low of $8.95 and a one year high of $11.14. The stock’s 50-day moving average is $10.79 and its 200 day moving average is $10.81.

AllianceBernstein National Municipal Income Fund Dividend Announcement

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

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in shares of AllianceBernstein National Municipal Income Fund by 31.3% during the 1st quarter. Advisors Asset Management Inc. now owns 305,880 shares of the investment management company’s stock valued at $3,362,000 after purchasing an additional 72,914 shares in the last quarter. Van ECK Associates Corp raised its stake in AllianceBernstein National Municipal Income Fund by 13.9% during the 1st quarter. Van ECK Associates Corp now owns 250,533 shares of the investment management company’s stock worth $2,753,000 after buying an additional 30,594 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in 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 worth $196,000 after buying an additional 7,900 shares during the period. Inscription Capital LLC acquired a new position in AllianceBernstein National Municipal Income Fund during the 1st quarter worth approximately $131,000. Finally, Park Avenue Securities LLC acquired a new position in AllianceBernstein National Municipal Income Fund during the 1st quarter worth approximately $124,000.

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.