AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Short Interest Up 151.7% in April

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 115,816 shares, an increase of 151.7% from the April 15th total of 46,010 shares. Based on an average daily volume of 131,467 shares, the days-to-cover ratio is currently 0.9 days.

AllianceBernstein National Municipal Income Fund Price Performance

AllianceBernstein National Municipal Income Fund stock traded down $0.12 during mid-day trading on Friday, reaching $10.96. 171,893 shares of the company’s stock traded hands, compared to its average volume of 120,449. The stock has a 50 day moving average of $10.85 and a two-hundred day moving average of $10.89. AllianceBernstein National Municipal Income Fund has a 12-month low of $10.05 and a 12-month high of $11.25.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last announced its earnings results on Friday, March 27th. The investment management company reported $0.17 earnings per share for the quarter.

AllianceBernstein National Municipal Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, May 7th were paid a $0.0502 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a c) annualized dividend and a dividend yield of 5.5%.

Insider Transactions at AllianceBernstein National Municipal Income Fund

In related news, Director Garry L. Moody sold 13,500 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $10.96, for a total transaction of $147,960.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in AFB. Elyxium Wealth LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund in the fourth quarter valued at $43,000. Global Retirement Partners LLC grew its holdings in shares of AllianceBernstein National Municipal Income Fund by 367.0% in the fourth quarter. Global Retirement Partners LLC now owns 4,670 shares of the investment management company’s stock worth $51,000 after purchasing an additional 3,670 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of AllianceBernstein National Municipal Income Fund in the third quarter worth about $65,000. Geneos Wealth Management Inc. grew its holdings in shares of AllianceBernstein National Municipal Income Fund by 328.5% in the first 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 during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of AllianceBernstein National Municipal Income Fund in the second quarter worth about $103,000.

AllianceBernstein National Municipal Income Fund Company 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.