AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB – Get Free Report) declared a monthly dividend on Tuesday, July 23rd, Wall Street Journal reports. Investors of record on Thursday, August 1st will be paid a dividend of 0.0327 per share by the investment management company on Friday, August 16th. This represents a $0.39 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Thursday, August 1st.
AllianceBernstein National Municipal Income Fund has decreased its dividend payment by an average of 13.3% per year over the last three years.
AllianceBernstein National Municipal Income Fund Price Performance
Shares of AFB traded down $0.06 on Wednesday, hitting $11.15. The company’s stock had a trading volume of 52,408 shares, compared to its average volume of 68,746. The firm’s fifty day moving average price is $11.02 and its 200-day moving average price is $10.86. AllianceBernstein National Municipal Income Fund has a fifty-two week low of $8.95 and a fifty-two week high of $11.32.
Insiders Place Their Bets
In other news, major shareholder Saba Capital Management, L.P. purchased 34,874 shares of AllianceBernstein National Municipal Income Fund stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $11.05 per share, with a total value of $385,357.70. Following the transaction, the insider now directly owns 3,149,020 shares in the company, valued at approximately $34,796,671. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 141,144 shares of company stock valued at $1,541,501 in the last quarter.
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.
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