Bank of New York Mellon Corp Sells 36,588 Shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB)

Bank of New York Mellon Corp decreased its holdings in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 35.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,418 shares of the investment management company’s stock after selling 36,588 shares during the period. Bank of New York Mellon Corp’s holdings in AllianceBernstein National Municipal Income Fund were worth $727,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings 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 purchasing an additional 72,914 shares during the last quarter. Van ECK Associates Corp boosted its position 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. Flow State Investments L.P. bought a new stake in AllianceBernstein National Municipal Income Fund during the 4th quarter worth approximately $171,000. Inscription Capital LLC acquired a new position in AllianceBernstein National Municipal Income Fund in the 1st quarter valued at approximately $131,000. Finally, Park Avenue Securities LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund during the first quarter valued at $124,000.

AllianceBernstein National Municipal Income Fund Price Performance

Shares of AFB stock opened at $11.65 on Monday. The stock has a 50-day moving average of $11.41 and a 200-day moving average of $11.04. AllianceBernstein National Municipal Income Fund, Inc. has a 1-year low of $8.95 and a 1-year high of $11.81.

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

AllianceBernstein National Municipal Income Fund Increases Dividend

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

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.