AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Sees Significant Growth in Short Interest

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 115,816 shares, a growth of 151.7% from the April 15th total of 46,010 shares. Based on an average trading volume of 131,467 shares, the days-to-cover ratio is presently 0.9 days.

Insider Buying and Selling

In other AllianceBernstein National Municipal Income Fund news, Director Garry L. Moody sold 13,500 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $10.96, for a total value of $147,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

Several institutional investors have recently bought and sold shares of the company. Balanced Wealth Group LLC raised its stake in shares of AllianceBernstein National Municipal Income Fund by 613.5% in the third quarter. Balanced Wealth Group LLC now owns 102,120 shares of the investment management company’s stock valued at $1,059,000 after buying an additional 87,807 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of AllianceBernstein National Municipal Income Fund by 16.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,432,746 shares of the investment management company’s stock worth $15,502,000 after acquiring an additional 206,961 shares during the period. Keybank National Association OH grew its stake in shares of AllianceBernstein National Municipal Income Fund by 5.6% during the 4th quarter. Keybank National Association OH now owns 930,742 shares of the investment management company’s stock worth $10,071,000 after acquiring an additional 49,044 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in AllianceBernstein National Municipal Income Fund by 8.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 609,785 shares of the investment management company’s stock worth $6,598,000 after acquiring an additional 46,568 shares during the last quarter. Finally, Riverbridge Partners LLC raised its stake in AllianceBernstein National Municipal Income Fund by 37.5% in the 4th quarter. Riverbridge Partners LLC now owns 138,885 shares of the investment management company’s stock valued at $1,503,000 after acquiring an additional 37,893 shares during the period.

AllianceBernstein National Municipal Income Fund Trading Down 1.0%

Shares of NYSE AFB traded down $0.11 during mid-day trading on Friday, reaching $10.97. 107,213 shares of the company’s stock were exchanged, compared to its average volume of 119,754. The firm has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $10.89. AllianceBernstein National Municipal Income Fund has a 52 week low of $10.05 and a 52 week high of $11.25.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last posted its quarterly earnings results on Friday, March 27th. The investment management company reported $0.17 earnings per share for the quarter.

AllianceBernstein National Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.0502 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, May 7th.

About AllianceBernstein National Municipal Income Fund

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.