Lido Advisors LLC decreased its holdings in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB – Free Report) by 88.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,538 shares of the investment management company’s stock after selling 274,537 shares during the quarter. Lido Advisors LLC’s holdings in AllianceBernstein National Municipal Income Fund were worth $401,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 22.3% in the 1st quarter. Royal Bank of Canada now owns 241,426 shares of the investment management company’s stock valued at $2,622,000 after purchasing an additional 43,982 shares in the last quarter. Geneos Wealth Management Inc. increased its position in AllianceBernstein National Municipal Income Fund by 328.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock worth $79,000 after purchasing an additional 5,608 shares in the last quarter. Jane Street Group LLC acquired a new position in AllianceBernstein National Municipal Income Fund during the 2nd quarter worth approximately $119,000. Captrust Financial Advisors bought a new position in AllianceBernstein National Municipal Income Fund in the 2nd quarter valued at approximately $103,000. Finally, Nomura Holdings Inc. bought a new position in AllianceBernstein National Municipal Income Fund in the 2nd quarter valued at approximately $103,000.
AllianceBernstein National Municipal Income Fund Stock Performance
Shares of AllianceBernstein National Municipal Income Fund stock opened at $10.89 on Friday. The company’s 50 day moving average price is $11.21 and its two-hundred day moving average price is $11.01. AllianceBernstein National Municipal Income Fund, Inc. has a fifty-two week low of $10.09 and a fifty-two week high of $11.50.
AllianceBernstein National Municipal Income Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, August 21st. Shareholders of record on Thursday, August 6th will be issued a $0.0502 dividend. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 6th.
Insider Buying and Selling
In other news, Director R Jay Gerken bought 2,500 shares of the company’s 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 completion of the transaction, the director owned 2,500 shares of the company’s stock, valued at $27,400. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
AllianceBernstein National Municipal Income Fund Profile
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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