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

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFBGet Rating) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 16,600 shares, a decrease of 46.8% from the March 31st total of 31,200 shares. Based on an average trading volume of 77,400 shares, the short-interest ratio is currently 0.2 days.

In other AllianceBernstein National Municipal Income Fund news, Director Garry L. Moody sold 4,655 shares of the company’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $11.98, for a total transaction of $55,766.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

A number of hedge funds and other institutional investors have recently modified their holdings of AFB. Laurel Wealth Planning LLC purchased a new position in shares of AllianceBernstein National Municipal Income Fund in the 1st quarter valued at about $30,000. First PREMIER Bank purchased a new position in shares of AllianceBernstein National Municipal Income Fund in the 1st quarter valued at about $59,000. WASHINGTON TRUST Co purchased a new position in shares of AllianceBernstein National Municipal Income Fund in the 4th quarter valued at about $65,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of AllianceBernstein National Municipal Income Fund in the 4th quarter valued at about $156,000. Finally, Raymond James & Associates increased its holdings in shares of AllianceBernstein National Municipal Income Fund by 8.7% in the 4th quarter. Raymond James & Associates now owns 11,646 shares of the investment management company’s stock valued at $172,000 after acquiring an additional 933 shares during the last quarter.

NYSE AFB traded down $0.06 during trading hours on Friday, hitting $11.63. 46,513 shares of the company were exchanged, compared to its average volume of 76,210. The company has a 50 day moving average of $12.50 and a two-hundred day moving average of $13.78. AllianceBernstein National Municipal Income Fund has a 52-week low of $11.47 and a 52-week high of $15.58.

The business also recently declared a monthly dividend, which will be paid on Friday, May 20th. Shareholders of record on Friday, May 6th will be issued a dividend of $0.0448 per share. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $0.54 annualized dividend and a yield of 4.62%.

AllianceBernstein National Municipal Income Fund Company Profile (Get Rating)

AllianceBernstein National Municipal Income Fund 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.

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