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

AllianceBernstein National Municipal Income Fund (NYSE:AFB) posted its quarterly earnings data on Friday. The investment management company reported $0.13 EPS for the quarter, Zacks reports.

AllianceBernstein National Municipal Income Fund Stock Up 0.1%

Shares of AFB stock opened at $10.73 on Friday. AllianceBernstein National Municipal Income Fund has a 52 week low of $9.78 and a 52 week high of $11.34. The firm has a 50 day moving average of $10.87 and a 200-day moving average of $10.59.

AllianceBernstein National Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, December 19th. Shareholders of record on Thursday, December 4th were issued a dividend of $0.0502 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Thursday, December 4th.

Insider Buying and Selling

In related news, Director Garry L. Moody purchased 13,500 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $11.07 per share, with a total value of $149,445.00. Following the completion of the purchase, the director owned 13,500 shares in the company, valued at approximately $149,445. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of AllianceBernstein National Municipal Income Fund

Several large investors have recently made changes to their positions in AFB. Bank of America Corp DE grew its stake in AllianceBernstein National Municipal Income Fund by 2.1% in the third quarter. Bank of America Corp DE now owns 59,833 shares of the investment management company’s stock valued at $649,000 after acquiring an additional 1,234 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of AllianceBernstein National Municipal Income Fund by 375.1% in the third quarter. Ameriprise Financial Inc. now owns 286,422 shares of the investment management company’s stock valued at $3,108,000 after buying an additional 226,131 shares in the last quarter. Pathstone Holdings LLC increased its position in shares of AllianceBernstein National Municipal Income Fund by 7.2% during the third quarter. Pathstone Holdings LLC now owns 2,143,102 shares of the investment management company’s stock worth $23,253,000 after acquiring an additional 144,091 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of AllianceBernstein National Municipal Income Fund by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 210,562 shares of the investment management company’s stock worth $2,285,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AllianceBernstein National Municipal Income Fund by 5.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 47,519 shares of the investment management company’s stock valued at $516,000 after acquiring an additional 2,395 shares in the last quarter.

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.