AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Buys $155,868.36 in Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFBGet Free Report) major shareholder Saba Capital Management, L.P. purchased 14,379 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $10.84 per share, for a total transaction of $155,868.36. Following the completion of the transaction, the insider now owns 3,100,896 shares of the company’s stock, valued at approximately $33,613,712.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

  • On Monday, May 20th, Saba Capital Management, L.P. purchased 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average cost 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 shares were acquired at an average cost of $10.92 per share, for a total transaction of $122,096.52.

AllianceBernstein National Municipal Income Fund Price Performance

NYSE:AFB traded down $0.02 during mid-day trading on Thursday, reaching $10.84. 181,696 shares of the company’s stock were exchanged, compared to its average volume of 71,503. AllianceBernstein National Municipal Income Fund, Inc. has a one year low of $8.95 and a one year high of $11.05. The business’s fifty day simple moving average is $10.72 and its two-hundred day simple moving average is $10.69.

AllianceBernstein National Municipal Income Fund (NYSE:AFBGet Free Report) last released its quarterly earnings results on Friday, March 22nd. The investment management company reported $0.10 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were issued a $0.033 dividend. This is a positive change from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Thursday, May 2nd.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

Several hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in AllianceBernstein National Municipal Income Fund by 31.3% in 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 buying an additional 72,914 shares during the period. Van ECK Associates Corp boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 250,533 shares of the investment management company’s stock valued at $2,753,000 after purchasing an additional 30,594 shares in the last quarter. 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 in the last quarter. Inscription Capital LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund in the 1st quarter valued at approximately $131,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund in the 1st quarter valued at approximately $124,000.

About AllianceBernstein National Municipal Income Fund

(Get Free Report)

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.

Read More

Receive News & Ratings for AllianceBernstein National Municipal Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AllianceBernstein National Municipal Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.