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

AllianceBernstein National Municipal Income Fund (NYSE:AFB) posted its quarterly earnings data on Friday. The investment management company reported $0.10 EPS for the quarter, reports.

AllianceBernstein National Municipal Income Fund Stock Performance

AFB opened at $11.11 on Monday. AllianceBernstein National Municipal Income Fund has a twelve month low of $8.95 and a twelve month high of $11.15. The firm’s 50-day moving average price is $10.83 and its 200 day moving average price is $10.82.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were given 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.

Insider Buying and Selling at AllianceBernstein National Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. bought 67,460 shares of the stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $735,314.00. Following the acquisition, the insider now directly owns 3,039,614 shares in the company, valued at approximately $33,131,792.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 141,144 shares of company stock worth $1,541,501.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in AllianceBernstein National Municipal Income Fund in the 4th quarter valued at about $27,000. Wolverine Asset Management LLC lifted its holdings in AllianceBernstein National Municipal Income Fund by 48.6% in the fourth quarter. Wolverine Asset Management LLC now owns 8,953 shares of the investment management company’s stock valued at $97,000 after acquiring an additional 2,927 shares during the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in AllianceBernstein National Municipal Income Fund in the fourth quarter worth approximately $107,000. Almitas Capital LLC acquired a new stake in AllianceBernstein National Municipal Income Fund during the third quarter worth $118,000. Finally, Park Avenue Securities LLC acquired a new stake in AllianceBernstein National Municipal Income Fund during the first quarter worth $124,000.

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.