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

AllianceBernstein National Municipal Income Fund (NYSE:AFB) announced 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 AFB stock opened at $11.46 on Friday. AllianceBernstein National Municipal Income Fund has a fifty-two week low of $10.05 and a fifty-two week high of $11.48. The stock has a 50 day simple moving average of $11.15 and a two-hundred day simple moving average of $10.95.

AllianceBernstein National Municipal Income Fund Announces Dividend

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

Insider Activity

In other news, Director R Jay Gerken purchased 2,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were acquired 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Garry L. Moody sold 13,500 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $10.96, for a total transaction of $147,960.00. Additional details regarding this sale are available in the official SEC disclosure.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 367.0% in the 4th quarter. Global Retirement Partners LLC now owns 4,670 shares of the investment management company’s stock worth $51,000 after buying an additional 3,670 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in AllianceBernstein National Municipal Income Fund by 328.5% during the first quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock worth $79,000 after buying an additional 5,608 shares during the last quarter. Captrust Financial Advisors bought a new stake in AllianceBernstein National Municipal Income Fund in the second quarter worth about $103,000. Nomura Holdings Inc. purchased a new position in AllianceBernstein National Municipal Income Fund in the second quarter valued at about $103,000. Finally, Jane Street Group LLC purchased a new position in AllianceBernstein National Municipal Income Fund in the second quarter valued at about $119,000.

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.