AllianceBernstein National Municipal Income Fund (NYSE:AFB) Shares Break Below 200-Day Moving Average – What’s Next?

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $10.78 and traded as low as $9.88. AllianceBernstein National Municipal Income Fund shares last traded at $9.9150, with a volume of 212,533 shares.

AllianceBernstein National Municipal Income Fund Stock Performance

The firm’s 50 day moving average is $10.17 and its 200-day moving average is $10.78.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last issued its earnings results on Friday, September 25th. The investment management company reported $0.16 earnings per share (EPS) for the quarter.

AllianceBernstein National Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 1st were given a dividend of $0.0502 per share. The ex-dividend date was Thursday, October 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.1%.

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. Rareview Capital LLC acquired a new position in shares of AllianceBernstein National Municipal Income Fund in the first quarter worth $4,333,000. Altium Capital Management LLC increased its holdings in shares of AllianceBernstein National Municipal Income Fund by 129.5% during the 1st quarter. Altium Capital Management LLC now owns 222,264 shares of the investment management company’s stock worth $2,376,000 after buying an additional 125,415 shares during the last quarter. Petra Financial Advisors Inc. acquired a new stake in AllianceBernstein National Municipal Income Fund during the first quarter worth about $570,000. Allspring Global Investments Holdings LLC lifted its stake in shares of AllianceBernstein National Municipal Income Fund by 2.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,464,577 shares of the investment management company’s stock valued at $15,656,000 after purchasing an additional 31,831 shares in the last quarter. Finally, Keybank National Association OH increased its position in shares of AllianceBernstein National Municipal Income Fund by 3.1% in the first quarter. Keybank National Association OH now owns 959,584 shares of the investment management company’s stock worth $10,258,000 after acquiring an additional 28,842 shares in the last quarter.

AllianceBernstein National Municipal Income Fund Company Profile

AllianceBernstein National Municipal Income Fund (NYSE: AFB) is a closed-end investment company that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal debt securities issued by states, cities, counties, public authorities and other governmental entities.

Managed by AllianceBernstein L.P., the fund provides investors with access to a diversified portfolio of tax-exempt municipal bonds across the United States.