AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Stock Short Interest Climbs 1,144.5%

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) was the target of a large increase in short interest during the month of October. As of October 30th, there was short interest totaling 57,335 shares, an increase of 1,144.5% from the October 15th total of 4,607 shares. Based on an average trading volume of 190,632 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

A number of hedge funds have recently modified their holdings of AFB. Lido Advisors LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter valued at about $334,000. Kestra Advisory Services LLC purchased a new position in AllianceBernstein National Municipal Income Fund during the 3rd quarter valued at about $1,101,000. Commonwealth Equity Services LLC increased its holdings in AllianceBernstein National Municipal Income Fund by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 196,622 shares of the investment management company’s stock valued at $1,874,000 after purchasing an additional 3,504 shares during the period. Ackerman Capital Advisors LLC bought a new position in AllianceBernstein National Municipal Income Fund during the 3rd quarter valued at approximately $198,000. Finally, SMH Capital Advisors Inc. bought a new position in AllianceBernstein National Municipal Income Fund during the 3rd quarter valued at approximately $116,000.

AllianceBernstein National Municipal Income Fund Stock Performance

AFB stock traded down $0.11 during midday trading on Tuesday, hitting $10.40. The company had a trading volume of 135,843 shares, compared to its average volume of 114,544. AllianceBernstein National Municipal Income Fund has a 52 week low of $9.28 and a 52 week high of $11.50. The stock’s 50 day moving average price is $10.01 and its 200 day moving average price is $10.76.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last released its quarterly earnings data on Friday, September 25th. The investment management company reported $0.16 earnings per share for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 20th. Shareholders of record on Thursday, November 5th will be issued a $0.0670 dividend. This is a boost from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.0502. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.80 dividend on an annualized basis and a yield of 7.7%.

AllianceBernstein National Municipal Income Fund Company Profile

AllianceBernstein National Municipal Income Fund, Inc. is a closed-end investment company listed on the New York Stock Exchange under the symbol AFB. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal debt securities issued by states, municipalities, and other public entities in the United States. The fund’s portfolio may include general obligation bonds, revenue bonds, and other municipal obligations financing public infrastructure and services such as education, transportation, utilities, and health care.