AllianceBernstein National Municipal Income Fund (NYSE:AFB) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.87 and traded as low as $9.59. AllianceBernstein National Municipal Income Fund shares last traded at $9.59, with a volume of 172,690 shares traded.

AllianceBernstein National Municipal Income Fund Stock Up 0.8%

The company’s 50 day moving average price is $10.55 and its 200 day moving average price is $10.87.

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

AllianceBernstein National Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 16th. Shareholders of record on Thursday, October 1st will be given a $0.0502 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.60 dividend on an annualized basis and a yield of 6.3%.

Hedge Funds Weigh In On AllianceBernstein National Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Financially in Tune LLC purchased a new stake in shares of AllianceBernstein National Municipal Income Fund during the fourth quarter worth approximately $234,000. Balanced Wealth Group LLC lifted its stake in AllianceBernstein National Municipal Income Fund by 82.8% in the first quarter. Balanced Wealth Group LLC now owns 23,245 shares of the investment management company’s stock worth $248,000 after acquiring an additional 10,527 shares during the last quarter. Catalina Capital Group LLC lifted its stake in AllianceBernstein National Municipal Income Fund by 39.7% in the first quarter. Catalina Capital Group LLC now owns 27,513 shares of the investment management company’s stock worth $294,000 after acquiring an additional 7,823 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in AllianceBernstein National Municipal Income Fund during the 4th quarter worth approximately $355,000. Finally, Arete Wealth Advisors LLC grew its holdings in AllianceBernstein National Municipal Income Fund by 80.6% during the 1st quarter. Arete Wealth Advisors LLC now owns 34,137 shares of the investment management company’s stock worth $363,000 after acquiring an additional 15,235 shares in the last quarter.

About AllianceBernstein National Municipal Income Fund

AllianceBernstein National Municipal Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol AFB. The fund seeks to provide a high level of current income that is exempt from regular U.S. federal income tax.

The fund invests primarily in municipal securities issued by states, municipalities, and other governmental entities across the United States. Its portfolio may include general obligation bonds, revenue bonds, and other tax-exempt debt instruments used to finance public infrastructure and services.

AFB is advised by AllianceBernstein L.P., an investment-management firm that provides portfolio management and research capabilities.