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

AllianceBernstein National Municipal Income Fund (NYSE:AFB) released its earnings results on Friday. The investment management company reported $0.15 earnings per share (EPS) for the quarter, Zacks reports.

AllianceBernstein National Municipal Income Fund Stock Up 0.5%

AllianceBernstein National Municipal Income Fund stock traded up $0.06 during mid-day trading on Friday, reaching $11.46. The company’s stock had a trading volume of 90,050 shares, compared to its average volume of 113,902. AllianceBernstein National Municipal Income Fund has a 12 month low of $10.05 and a 12 month high of $11.48. The business’s 50 day simple moving average is $11.14 and its 200 day simple moving average is $10.94.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.0502 per share. The ex-dividend date is Thursday, July 2nd. This represents a c) annualized dividend and a yield of 5.3%.

Insider Buying and Selling at AllianceBernstein National Municipal Income Fund

In other AllianceBernstein National Municipal Income Fund news, Director Garry L. Moody sold 13,500 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.96, for a total transaction of $147,960.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Jay Gerken acquired 2,500 shares of AllianceBernstein National Municipal Income Fund stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $10.96 per share, with a total value of $27,400.00. Following the completion of the purchase, the director owned 2,500 shares in the company, valued at approximately $27,400. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position 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 acquiring an additional 1,070 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of 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 purchasing an additional 1,234 shares during the last quarter. Wells Fargo & Company MN grew its stake in AllianceBernstein National Municipal Income Fund by 0.4% in the 4th quarter. Wells Fargo & Company MN now owns 494,690 shares of the investment management company’s stock valued at $5,353,000 after buying an additional 1,844 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 2,395 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of AllianceBernstein National Municipal Income Fund by 7.4% during the fourth quarter. HighTower Advisors LLC now owns 51,097 shares of the investment management company’s stock worth $553,000 after acquiring an additional 3,535 shares during the period.

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.