Insider Buying: AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Purchases $385,357.70 in Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. bought 34,874 shares of the stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $11.05 per share, with a total value of $385,357.70. Following the acquisition, the insider now owns 3,149,020 shares in the company, valued at approximately $34,796,671. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 7th, Saba Capital Management, L.P. acquired 6,099 shares of AllianceBernstein National Municipal Income Fund stock. The shares were purchased at an average price of $10.82 per share, with a total value of $65,991.18.
• On Wednesday, May 29th, Saba Capital Management, L.P. bought 7,151 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average price of $10.75 per share, for a total transaction of $76,873.25.
• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The stock was acquired at an average price of $10.84 per share, for a total transaction of $155,868.36.
• On Monday, May 20th, Saba Capital Management, L.P. bought 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average price of $10.90 per share, with a total value 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 stock was acquired at an average price of $10.92 per share, for a total transaction of $122,096.52.

AllianceBernstein National Municipal Income Fund Stock Performance

Shares of NYSE AFB opened at $11.10 on Friday. The business has a 50-day moving average of $10.82 and a 200-day moving average of $10.81. AllianceBernstein National Municipal Income Fund, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $11.14.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, June 21st. Shareholders of record on Thursday, June 6th were given a dividend of $0.0327 per share. This represents a $0.39 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Thursday, June 6th.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in AFB. Advisors Asset Management Inc. lifted its stake in AllianceBernstein National Municipal Income Fund by 31.3% in the first quarter. Advisors Asset Management Inc. now owns 305,880 shares of the investment management company’s stock valued at $3,362,000 after acquiring an additional 72,914 shares during the last quarter. Van ECK Associates Corp lifted its holdings in AllianceBernstein National Municipal Income Fund by 13.9% during the 1st quarter. Van ECK Associates Corp now owns 250,533 shares of the investment management company’s stock valued at $2,753,000 after purchasing an additional 30,594 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in AllianceBernstein National Municipal Income Fund by 79.8% during the first quarter. Blue Bell Private Wealth Management LLC now owns 17,800 shares of the investment management company’s stock worth $196,000 after purchasing an additional 7,900 shares during the period. Inscription Capital LLC acquired a new position in AllianceBernstein National Municipal Income Fund in the 1st quarter valued at about $131,000. Finally, Park Avenue Securities LLC bought a new stake in shares of AllianceBernstein National Municipal Income Fund during the first quarter worth approximately $124,000.

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.