Hennion & Walsh Asset Management Inc. Trims Stock Position in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 15.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 656,514 shares of the investment management company’s stock after selling 117,145 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in AllianceBernstein National Municipal Income Fund were worth $7,215,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AFB. TCG Advisory Services LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund during the 4th quarter valued at about $325,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund during the 4th quarter valued at about $107,000. Van ECK Associates Corp grew its position in shares of AllianceBernstein National Municipal Income Fund by 15.1% during the 4th quarter. Van ECK Associates Corp now owns 219,939 shares of the investment management company’s stock valued at $2,384,000 after acquiring an additional 28,935 shares during the period. AQR Arbitrage LLC grew its position in shares of AllianceBernstein National Municipal Income Fund by 44.5% during the 3rd quarter. AQR Arbitrage LLC now owns 236,082 shares of the investment management company’s stock valued at $2,205,000 after acquiring an additional 72,700 shares during the period. Finally, Saba Capital Management L.P. grew its position in shares of AllianceBernstein National Municipal Income Fund by 227.8% during the 3rd quarter. Saba Capital Management L.P. now owns 1,676,795 shares of the investment management company’s stock valued at $15,661,000 after acquiring an additional 1,165,325 shares during the period.

Insider Transactions at AllianceBernstein National Municipal Income Fund

In related news, major shareholder Saba Capital Management, L.P. bought 7,151 shares of the stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $10.75 per share, for a total transaction of $76,873.25. Following the acquisition, the insider now directly owns 3,108,047 shares in the company, valued at approximately $33,411,505.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 141,144 shares of company stock worth $1,541,501 in the last ninety days.

AllianceBernstein National Municipal Income Fund Price Performance

Shares of NYSE:AFB traded up $0.01 during trading on Friday, reaching $11.11. 78,909 shares of the company’s stock traded hands, compared to its average volume of 71,072. AllianceBernstein National Municipal Income Fund, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $11.15. The company has a 50-day simple moving average of $10.83 and a 200-day simple moving average of $10.82.

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

AllianceBernstein National Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 6th were issued a dividend of $0.0327 per share. This represents a $0.39 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, June 6th.

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.