Key Points
- Director R. Jay Gerken bought 2,500 shares of AllianceBernstein National Municipal Income Fund (NYSE: AFB) at an average price of $10.96, for a total of $27,400.
- The fund’s shares recently traded at $11.21, near their 52-week high of $11.25 and above both the 50-day and 200-day moving averages.
- AFB also declared a monthly dividend of $0.0502 per share, payable June 26, which annualizes to a 5.4% yield.
AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB - Get Free Report) Director R Jay Gerken acquired 2,500 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $10.96 per share, for a total transaction of $27,400.00. Following the completion of the acquisition, the director owned 2,500 shares in the company, valued at approximately $27,400. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
AllianceBernstein National Municipal Income Fund Stock Performance
Shares of AFB stock opened at $11.21 on Thursday. The firm's 50 day moving average price is $10.87 and its 200-day moving average price is $10.89. AllianceBernstein National Municipal Income Fund, Inc. has a one year low of $10.05 and a one year high of $11.25.
AllianceBernstein National Municipal Income Fund (NYSE:AFB - Get Free Report) last issued its quarterly earnings data on Friday, March 27th. The investment management company reported $0.17 EPS for the quarter.
AllianceBernstein National Municipal Income Fund Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 4th will be issued a $0.0502 dividend. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Thursday, June 4th.
Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund
Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of AllianceBernstein National Municipal Income Fund by 16.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,432,746 shares of the investment management company's stock worth $15,502,000 after acquiring an additional 206,961 shares during the period. Altium Capital Management LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the fourth quarter worth $1,048,000. Keybank National Association OH increased its position in shares of AllianceBernstein National Municipal Income Fund by 5.6% during the fourth quarter. Keybank National Association OH now owns 930,742 shares of the investment management company's stock worth $10,071,000 after acquiring an additional 49,044 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the fourth quarter worth $43,000. Finally, Independent Advisor Alliance purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the fourth quarter worth $162,000.
About AllianceBernstein National Municipal Income Fund
(
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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