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

AllianceBernstein National Municipal Income Fund (NYSE:AFB – Get Free Report) issued its quarterly earnings results on Friday. The investment management company reported $0.15 EPS for the quarter, Zacks reports.

AllianceBernstein National Municipal Income Fund Stock Up 0.5%

Shares of AFB opened at $11.46 on Friday. AllianceBernstein National Municipal Income Fund has a 52-week low of $10.05 and a 52-week high of $11.48. The stock has a 50 day moving average price of $11.15 and a 200 day moving average price of $10.95.

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AllianceBernstein National Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 2nd will be paid a $0.0502 dividend. The ex-dividend date is Thursday, July 2nd. This represents a c) dividend on an annualized basis and a yield of 5.3%.

Insider Transactions at AllianceBernstein National Municipal Income Fund

In related news, Director Garry L. Moody sold 13,500 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.96, for a total value of $147,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Jay Gerken bought 2,500 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of $10.96 per share, for a total transaction of $27,400.00. Following the acquisition, the director directly owned 2,500 shares of the company’s stock, valued at $27,400. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in AllianceBernstein National Municipal Income Fund by 2.1% during the third quarter. Bank of America Corp DE now owns 59,833 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 1,234 shares during the period. HighTower Advisors LLC lifted its position in shares of AllianceBernstein National Municipal Income Fund by 7.4% in the 4th quarter. HighTower Advisors LLC now owns 51,097 shares of the investment management company’s stock worth $553,000 after acquiring an additional 3,535 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of AllianceBernstein National Municipal Income Fund by 5.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 47,519 shares of the investment management company’s stock worth $516,000 after purchasing an additional 2,395 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund during the 4th quarter worth approximately $296,000. Finally, Jane Street Group LLC bought a new stake in shares of AllianceBernstein National Municipal Income Fund during the fourth quarter valued at approximately $163,000.

AllianceBernstein National Municipal Income Fund Company Profile

(Get Free Report)

AllianceBernstein National Municipal Income Fund (NYSE: AFB) is a closed-end management investment company that primarily seeks to provide shareholders with a high level of federally tax-exempt income. The fund invests predominantly in a diversified portfolio of investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. These instruments include general obligation bonds, revenue bonds and other municipal debt obligations that offer tax-advantaged income potential for investors.

Under the management of AllianceBernstein L.P., the fund’s portfolio is constructed and monitored by a dedicated team of municipal credit analysts and portfolio managers.

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