Royal Bank of Canada cut its holdings in shares of AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB – Free Report) by 63.5% in the 1st quarter, Holdings Channel reports. The fund owned 78,451 shares of the investment management company’s stock after selling 136,767 shares during the period. Royal Bank of Canada’s holdings in AllianceBernstein National Municipal Income Fund were worth $839,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Elyxium Wealth LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund in the fourth quarter worth about $43,000. Global Retirement Partners LLC grew its stake in AllianceBernstein National Municipal Income Fund by 367.0% during the 4th quarter. Global Retirement Partners LLC now owns 4,670 shares of the investment management company’s stock valued at $51,000 after purchasing an additional 3,670 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in AllianceBernstein National Municipal Income Fund by 328.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock worth $79,000 after purchasing an additional 5,608 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in AllianceBernstein National Municipal Income Fund during the 2nd quarter worth approximately $103,000. Finally, Captrust Financial Advisors purchased a new stake in AllianceBernstein National Municipal Income Fund during the 2nd quarter worth approximately $103,000.
AllianceBernstein National Municipal Income Fund Stock Down 0.7%
Shares of AFB opened at $10.92 on Friday. The business’s 50 day moving average is $11.15 and its two-hundred day moving average is $11.02. AllianceBernstein National Municipal Income Fund, Inc. has a 52-week low of $10.19 and a 52-week high of $11.50.
AllianceBernstein National Municipal Income Fund Dividend Announcement
The business also recently announced a monthly dividend, which was paid on Friday, August 21st. Stockholders of record on Thursday, August 6th were given a $0.0502 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a c) annualized dividend and a dividend yield of 5.5%.
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.
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