Saba Capital Management L.P. Sells 2,300,935 Shares of AllianceBernstein National Municipal Income Fund, Inc. $AFB

Saba Capital Management L.P. reduced its holdings in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) by 83.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,321 shares of the investment management company’s stock after selling 2,300,935 shares during the quarter. Saba Capital Management L.P.’s holdings in AllianceBernstein National Municipal Income Fund were worth $4,910,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Elyxium Wealth LLC acquired a new stake in AllianceBernstein National Municipal Income Fund during the 4th quarter valued at $43,000. Global Retirement Partners LLC boosted its stake in AllianceBernstein National Municipal Income Fund by 367.0% in the fourth quarter. Global Retirement Partners LLC now owns 4,670 shares of the investment management company’s stock worth $51,000 after purchasing an additional 3,670 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in AllianceBernstein National Municipal Income Fund by 328.5% in the first 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 in the last quarter. Nomura Holdings Inc. bought a new stake in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth $103,000. Finally, Captrust Financial Advisors bought a new position in shares of AllianceBernstein National Municipal Income Fund in the second quarter valued at about $103,000.

AllianceBernstein National Municipal Income Fund Trading Up 0.3%

Shares of NYSE AFB opened at $10.88 on Tuesday. The firm’s 50-day simple moving average is $11.21 and its 200 day simple moving average is $11.01. AllianceBernstein National Municipal Income Fund, Inc. has a 12-month low of $10.08 and a 12-month high of $11.50.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last issued its quarterly earnings data on Friday, June 26th. The investment management company reported $0.15 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, August 21st. Investors of record on Thursday, August 6th will be issued a $0.0502 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%.

Insider Buying and Selling at AllianceBernstein National Municipal Income Fund

In related news, Director R Jay Gerken acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $10.96 per share, for a total transaction of $27,400.00. Following the transaction, the director directly owned 2,500 shares of the company’s stock, valued at approximately $27,400. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

AllianceBernstein National Municipal Income Fund Profile

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.