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

AllianceBernstein National Municipal Income Fund (NYSE:AFB) released its earnings results on Friday. The investment management company reported $0.15 earnings per share for the quarter, Zacks reports.

AllianceBernstein National Municipal Income Fund Trading Up 0.5%

Shares of AllianceBernstein National Municipal Income Fund stock traded up $0.06 during midday trading on Friday, hitting $11.46. 90,050 shares of the company traded hands, compared to its average volume of 113,902. The firm’s fifty day moving average price is $11.14 and its 200-day moving average price is $10.94. AllianceBernstein National Municipal Income Fund has a 12 month low of $10.05 and a 12 month high of $11.48.

AllianceBernstein National Municipal Income Fund Announces Dividend

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

Insider Activity at AllianceBernstein National Municipal Income Fund

In other news, Director Garry L. Moody sold 13,500 shares of the stock in a transaction on Tuesday, April 21st. The stock was 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 can be accessed through this hyperlink. Also, Director R Jay Gerken acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $10.96 per share, for a total transaction of $27,400.00. Following the acquisition, the director owned 2,500 shares in the company, valued at $27,400. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of AllianceBernstein National Municipal Income Fund

A number of hedge funds have recently made changes to their positions in AFB. Global Retirement Partners LLC increased its stake 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 valued at $51,000 after buying an additional 3,670 shares during the period. Geneos Wealth Management Inc. increased its position in AllianceBernstein National Municipal Income Fund by 328.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock valued at $79,000 after acquiring an additional 5,608 shares during the period. Captrust Financial Advisors bought a new position in shares of AllianceBernstein National Municipal Income Fund during the second quarter valued at $103,000. Nomura Holdings Inc. acquired a new position in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth $103,000. Finally, Jane Street Group LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth $119,000.

About AllianceBernstein National Municipal Income Fund

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.