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

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 64,769 shares, a decline of 49.5% from the June 30th total of 128,260 shares. Based on an average daily volume of 91,694 shares, the short-interest ratio is currently 0.7 days.

AllianceBernstein National Municipal Income Fund Price Performance

Shares of NYSE AFB traded up $0.01 during midday trading on Wednesday, reaching $10.95. The company’s stock had a trading volume of 33,878 shares, compared to its average volume of 110,032. The firm has a 50 day moving average price of $11.21 and a 200-day moving average price of $11.01. AllianceBernstein National Municipal Income Fund has a 12-month low of $10.08 and a 12-month high of $11.50.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last issued its quarterly 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 declared a monthly dividend, which will be paid on Friday, August 21st. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.0502 per share. The ex-dividend date is Thursday, August 6th. This represents a c) annualized dividend and a dividend yield of 5.5%.

Insider Buying and Selling

In related news, Director R Jay Gerken acquired 2,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of $10.96 per share, with a total value of $27,400.00. Following the acquisition, the director owned 2,500 shares of the company’s stock, valued at approximately $27,400. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

Several institutional investors have recently bought and sold shares of the company. Noble Wealth Management PBC grew its holdings in AllianceBernstein National Municipal Income Fund by 5.9% during the second quarter. Noble Wealth Management PBC now owns 68,341 shares of the investment management company’s stock valued at $780,000 after purchasing an additional 3,796 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of AllianceBernstein National Municipal Income Fund by 80.6% in the first quarter. Arete Wealth Advisors LLC now owns 34,137 shares of the investment management company’s stock valued at $363,000 after buying an additional 15,235 shares during the period. Bank of America Corp DE lifted its position in shares of AllianceBernstein National Municipal Income Fund by 18.0% during the 1st quarter. Bank of America Corp DE now owns 66,506 shares of the investment management company’s stock valued at $711,000 after buying an additional 10,126 shares during the last quarter. Rivernorth Capital Management LLC lifted its position in shares of AllianceBernstein National Municipal Income Fund by 2.1% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,061,484 shares of the investment management company’s stock valued at $11,347,000 after buying an additional 21,639 shares during the last quarter. Finally, Petra Financial Advisors Inc. bought a new position in shares of AllianceBernstein National Municipal Income Fund during the 1st quarter worth $570,000.

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.