AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Sees Significant Drop in Short Interest

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 4,607 shares, a decline of 92.8% from the September 30th total of 63,852 shares. Based on an average trading volume of 195,157 shares, the short-interest ratio is presently 0.0 days.

AllianceBernstein National Municipal Income Fund Stock Performance

Shares of AFB stock traded up $0.01 on Wednesday, reaching $10.26. The company had a trading volume of 271,019 shares, compared to its average volume of 114,628. The company has a 50-day moving average of $10.12 and a 200-day moving average of $10.79. AllianceBernstein National Municipal Income Fund has a 12 month low of $9.28 and a 12 month high of $11.50.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last announced its quarterly earnings results on Friday, September 25th. The investment management company reported $0.16 earnings per share (EPS) for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 20th. Shareholders of record on Thursday, November 5th will be paid a $0.0670 dividend. This represents a $0.80 annualized dividend and a yield of 7.8%. The ex-dividend date is Thursday, November 5th. This is a positive change from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.0502.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AFB. Farther Finance Advisors LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund in the 3rd quarter valued at about $33,000. Wedbush Securities Inc. acquired a new stake in shares of AllianceBernstein National Municipal Income Fund in the third quarter valued at approximately $210,000. Balanced Wealth Group LLC boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 82.8% during the 1st quarter. Balanced Wealth Group LLC now owns 23,245 shares of the investment management company’s stock worth $248,000 after acquiring an additional 10,527 shares during the period. Catalina Capital Group LLC boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 39.7% during the 1st quarter. Catalina Capital Group LLC now owns 27,513 shares of the investment management company’s stock worth $294,000 after acquiring an additional 7,823 shares during the period. Finally, Arete Wealth Advisors LLC boosted its stake in shares of AllianceBernstein National Municipal Income Fund by 80.6% during the 1st quarter. Arete Wealth Advisors LLC now owns 34,137 shares of the investment management company’s stock worth $363,000 after acquiring an additional 15,235 shares during the period.

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund (NYSE: AFB) is a closed-end investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal debt securities issued by states, cities, counties, public authorities and other governmental entities.

Managed by AllianceBernstein L.P., the fund provides investors with access to a diversified portfolio of tax-exempt municipal bonds across the United States.