ProVise Management Group LLC Cuts Stock Position in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB)

ProVise Management Group LLC cut its holdings in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,800 shares of the investment management company’s stock after selling 1,000 shares during the period. ProVise Management Group LLC’s holdings in AllianceBernstein National Municipal Income Fund were worth $176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AFB. City of London Investment Management Co. Ltd. purchased a new stake in AllianceBernstein National Municipal Income Fund during the second quarter worth about $2,488,000. Rothschild Investment LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth approximately $891,000. Advisors Asset Management Inc. increased its stake in shares of AllianceBernstein National Municipal Income Fund by 31.3% during the first quarter. Advisors Asset Management Inc. now owns 305,880 shares of the investment management company’s stock worth $3,362,000 after buying an additional 72,914 shares during the period. Van ECK Associates Corp increased its stake in shares of AllianceBernstein National Municipal Income Fund by 13.9% during the first 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. Finally, Choreo LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth approximately $252,000.

Insider Buying and Selling

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

AllianceBernstein National Municipal Income Fund Stock Performance

AFB stock opened at $11.65 on Friday. The company’s 50 day moving average price is $11.41 and its 200 day moving average price is $11.04. AllianceBernstein National Municipal Income Fund, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $11.81.

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

AllianceBernstein National Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were paid a dividend of $0.0359 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 3.70%. This is a positive change from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03. The ex-dividend date was Thursday, September 5th.

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.