Saba Capital Management L.P. Has $4.91 Million Stock Position in AllianceBernstein National Municipal Income Fund, Inc. $AFB

Saba Capital Management L.P. lowered its position in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 83.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 459,321 shares of the investment management company’s stock after selling 2,300,935 shares during the quarter. Saba Capital Management L.P.’s holdings in AllianceBernstein National Municipal Income Fund were worth $4,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its stake in AllianceBernstein National Municipal Income Fund by 0.5% during the fourth quarter. Royal Bank of Canada now owns 215,218 shares of the investment management company’s stock worth $2,329,000 after buying an additional 1,070 shares in the last quarter. Bank of America Corp DE raised its position 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 worth $649,000 after purchasing an additional 1,234 shares in the last quarter. Wells Fargo & Company MN lifted its stake in AllianceBernstein National Municipal Income Fund by 0.4% during the fourth quarter. Wells Fargo & Company MN now owns 494,690 shares of the investment management company’s stock worth $5,353,000 after purchasing an additional 1,844 shares during the period. Envestnet Asset Management Inc. lifted its stake in AllianceBernstein National Municipal Income Fund by 5.3% during the third quarter. Envestnet Asset Management Inc. now owns 47,519 shares of the investment management company’s stock worth $516,000 after purchasing an additional 2,395 shares during the period. Finally, Traub Capital Management LLC boosted its holdings in AllianceBernstein National Municipal Income Fund by 7.5% during the first quarter. Traub Capital Management LLC now owns 50,291 shares of the investment management company’s stock valued at $538,000 after purchasing an additional 3,504 shares in the last quarter.

Insider Activity

In other news, Director R Jay Gerken bought 2,500 shares of AllianceBernstein National Municipal Income Fund stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $10.96 per share, for a total transaction of $27,400.00. Following the purchase, the director owned 2,500 shares of the company’s stock, valued at approximately $27,400. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AllianceBernstein National Municipal Income Fund Trading Up 0.3%

AFB stock opened at $10.88 on Tuesday. AllianceBernstein National Municipal Income Fund, Inc. has a 1-year low of $10.08 and a 1-year high of $11.50. The business’s 50 day moving average is $11.21 and its 200-day moving average is $11.01.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last posted its earnings results on Friday, June 26th. The investment management company reported $0.15 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 21st. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.0502 per share. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Thursday, August 6th.

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.