AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Acquires $735,314.00 in Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. acquired 67,460 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $10.90 per share, with a total value of $735,314.00. Following the completion of the transaction, the insider now directly owns 3,039,614 shares in the company, valued at approximately $33,131,792.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, May 23rd, Saba Capital Management, L.P. purchased 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The shares were purchased at an average cost of $10.84 per share, with a total value of $155,868.36.
• On Wednesday, May 15th, Saba Capital Management, L.P. purchased 11,181 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average cost of $10.92 per share, with a total value of $122,096.52.

AllianceBernstein National Municipal Income Fund Stock Down 0.2 %

Shares of AFB opened at $10.84 on Friday. AllianceBernstein National Municipal Income Fund, Inc. has a twelve month low of $8.95 and a twelve month high of $11.05. The company has a 50 day moving average of $10.72 and a 200-day moving average of $10.69.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last released its quarterly earnings data on Friday, March 22nd. The investment management company reported $0.10 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were issued a $0.033 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

Several large investors have recently made changes to their positions in AFB. Raymond James & Associates boosted its holdings in shares of AllianceBernstein National Municipal Income Fund by 108.7% in the 3rd quarter. Raymond James & Associates now owns 39,237 shares of the investment management company’s stock valued at $366,000 after buying an additional 20,432 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in AllianceBernstein National Municipal Income Fund by 9.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 16,038 shares of the investment management company’s stock valued at $150,000 after purchasing an additional 1,422 shares during the last quarter. Fort Point Capital Partners LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund during the third quarter worth $181,000. Wolverine Asset Management LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund during the third quarter worth $56,000. Finally, Saba Capital Management L.P. lifted its holdings in shares of AllianceBernstein National Municipal Income Fund by 227.8% during the third quarter. Saba Capital Management L.P. now owns 1,676,795 shares of the investment management company’s stock worth $15,661,000 after buying an additional 1,165,325 shares in the last quarter.

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax.