AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Purchases $155,868.36 in Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. bought 14,379 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $10.84 per share, for a total transaction of $155,868.36. Following the transaction, the insider now owns 3,100,896 shares of the company’s stock, valued at $33,613,712.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, May 20th, Saba Capital Management, L.P. purchased 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The stock was bought at an average price of $10.90 per share, for a total transaction of $735,314.00.
• On Wednesday, May 15th, Saba Capital Management, L.P. purchased 11,181 shares of AllianceBernstein National Municipal Income Fund stock. The shares were bought at an average cost of $10.92 per share, for a total transaction of $122,096.52.

AllianceBernstein National Municipal Income Fund Price Performance

Shares of NYSE:AFB opened at $10.85 on Friday. AllianceBernstein National Municipal Income Fund, Inc. has a one year low of $8.95 and a one year high of $11.05. The firm has a 50 day simple moving average of $10.72 and a 200 day simple moving average of $10.70.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last announced its quarterly earnings results on Friday, March 22nd. The investment management company reported $0.10 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a $0.033 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from AllianceBernstein National Municipal Income Fund’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a yield of 3.65%.

Institutional Trading of AllianceBernstein National Municipal Income Fund

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates raised its holdings in AllianceBernstein National Municipal Income Fund by 108.7% in the 3rd quarter. Raymond James & Associates now owns 39,237 shares of the investment management company’s stock valued at $366,000 after buying an additional 20,432 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in AllianceBernstein National Municipal Income Fund by 9.7% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 16,038 shares of the investment management company’s stock valued at $150,000 after acquiring an additional 1,422 shares during the period. Fort Point Capital Partners LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter valued at $181,000. Wolverine Asset Management LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter worth $56,000. Finally, Saba Capital Management L.P. grew its stake in shares of AllianceBernstein National Municipal Income Fund by 227.8% in the third quarter. Saba Capital Management L.P. now owns 1,676,795 shares of the investment management company’s stock worth $15,661,000 after purchasing an additional 1,165,325 shares during the last quarter.

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. The fund invests in the fixed income markets of the United States. It primarily invests in investment-grade municipal securities which pay interest that is exempt from federal income tax.