AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Short Interest Update

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 28,400 shares, an increase of 98.6% from the April 30th total of 14,300 shares. Based on an average trading volume of 65,500 shares, the short-interest ratio is presently 0.4 days.

Insiders Place Their Bets

In other AllianceBernstein National Municipal Income Fund news, major shareholder Saba Capital Management, L.P. acquired 67,460 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average price of $10.90 per share, with a total value of $735,314.00. Following the purchase, the insider now owns 3,039,614 shares in the company, valued at $33,131,792.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 93,020 shares of company stock worth $1,013,279.

Institutional Investors Weigh In On AllianceBernstein National Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of AFB. Raymond James & Associates lifted its position in AllianceBernstein National Municipal Income Fund by 108.7% during the third 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 in the last quarter. Landscape Capital Management L.L.C. grew its position in shares of AllianceBernstein National Municipal Income Fund by 9.7% during the third quarter. Landscape Capital Management L.L.C. now owns 16,038 shares of the investment management company’s stock worth $150,000 after acquiring an additional 1,422 shares during the last quarter. Fort Point Capital Partners LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter worth about $181,000. Wolverine Asset Management LLC bought a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter worth about $56,000. Finally, Saba Capital Management L.P. grew its position in shares of AllianceBernstein National Municipal Income Fund by 227.8% during 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 acquiring an additional 1,165,325 shares during the last quarter.

AllianceBernstein National Municipal Income Fund Trading Up 0.4 %

Shares of NYSE AFB traded up $0.04 during mid-day trading on Friday, reaching $10.75. The company had a trading volume of 25,338 shares, compared to its average volume of 70,414. The firm has a 50 day simple moving average of $10.71 and a two-hundred day simple moving average of $10.72. AllianceBernstein National Municipal Income Fund has a 52-week low of $8.95 and a 52-week high of $11.05.

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

AllianceBernstein National Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, June 21st. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.0327 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.39 annualized dividend and a yield of 3.65%.

AllianceBernstein National Municipal Income Fund Company Profile

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.