ProVise Management Group LLC Has $178,000 Position in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB)

ProVise Management Group LLC cut its position in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,388 shares of the investment management company’s stock after selling 10,770 shares during the period. ProVise Management Group LLC’s holdings in AllianceBernstein National Municipal Income Fund were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AFB. Blue Bell Private Wealth Management LLC acquired a new position in AllianceBernstein National Municipal Income Fund during the fourth quarter worth approximately $107,000. TCG Advisory Services LLC bought a new stake in AllianceBernstein National Municipal Income Fund in the 4th quarter valued at $325,000. Van ECK Associates Corp lifted its holdings in AllianceBernstein National Municipal Income Fund by 15.1% during the 4th quarter. Van ECK Associates Corp now owns 219,939 shares of the investment management company’s stock valued at $2,384,000 after purchasing an additional 28,935 shares during the last quarter. AQR Arbitrage LLC boosted its position in AllianceBernstein National Municipal Income Fund by 44.5% during the third quarter. AQR Arbitrage LLC now owns 236,082 shares of the investment management company’s stock worth $2,205,000 after purchasing an additional 72,700 shares during the period. Finally, Saba Capital Management L.P. increased its holdings in shares of AllianceBernstein National Municipal Income Fund by 227.8% in the third quarter. Saba Capital Management L.P. now owns 1,676,795 shares of the investment management company’s stock valued at $15,661,000 after purchasing an additional 1,165,325 shares during the last quarter.

AllianceBernstein National Municipal Income Fund Stock Performance

Shares of NYSE AFB traded up $0.01 during mid-day trading on Friday, reaching $10.85. 37,377 shares of the company were exchanged, compared to its average volume of 71,165. The company’s 50-day simple moving average is $10.72 and its 200-day simple moving average is $10.70. AllianceBernstein National Municipal Income Fund, Inc. has a twelve month low of $8.95 and a twelve month high of $11.05.

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

AllianceBernstein National Municipal Income Fund Increases Dividend

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

Insider Buying and Selling at AllianceBernstein National Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. bought 67,460 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was bought at an average price of $10.90 per share, with a total value of $735,314.00. Following the completion of the acquisition, the insider now owns 3,039,614 shares of the company’s stock, valued at $33,131,792.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought a total of 93,020 shares of company stock valued at $1,013,279 in the last ninety days.

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.