Insider Selling: Alliance California Municipal IncmFndInc (AKP) Major Shareholder Sells 536,293 Shares of Stock
Alliance California Municipal IncmFndInc (NYSE:AKP) major shareholder Bulldog Investors, Llc sold 536,293 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $14.68, for a total transaction of $7,872,781.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of NYSE:AKP traded down $0.01 during trading on Monday, reaching $14.70. 43,554 shares of the company’s stock traded hands, compared to its average volume of 37,670. Alliance California Municipal IncmFndInc has a 12 month low of $12.65 and a 12 month high of $14.80.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.0421 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Thursday, April 4th.
About Alliance California Municipal IncmFndInc
Alliance California 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 with a focus on California. It primarily invests in investment-grade municipal securities paying interest that is exempt from regular federal and California state income taxes.
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