Saba Capital Management, L.P. Acquires 11,181 Shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFBGet Free Report) major shareholder Saba Capital Management, L.P. purchased 11,181 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $10.92 per share, for a total transaction of $122,096.52. Following the completion of the purchase, the insider now owns 2,928,442 shares of the company’s stock, valued at $31,978,586.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

AllianceBernstein National Municipal Income Fund Trading Down 0.4 %

AFB opened at $10.88 on Friday. AllianceBernstein National Municipal Income Fund, Inc. has a one year low of $8.95 and a one year high of $11.05. The business’s 50-day simple moving average is $10.73 and its 200-day simple moving average is $10.65.

AllianceBernstein National Municipal Income Fund (NYSE:AFBGet Free Report) last announced its quarterly earnings results 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 announced a monthly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a $0.033 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.64%. This is an increase from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 2nd.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of AllianceBernstein National Municipal Income Fund in the fourth quarter valued at approximately $27,000. Wolverine Asset Management LLC purchased a new stake in AllianceBernstein National Municipal Income Fund in the 3rd quarter valued at $56,000. Blue Bell Private Wealth Management LLC acquired a new stake in AllianceBernstein National Municipal Income Fund during the 4th quarter worth $107,000. Almitas Capital LLC purchased a new position in AllianceBernstein National Municipal Income Fund during the 3rd quarter worth $118,000. Finally, Park Avenue Securities LLC purchased a new position in AllianceBernstein National Municipal Income Fund during the 1st quarter worth $124,000.

About AllianceBernstein National Municipal Income Fund

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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.

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