Insider Buying: AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Purchases $65,991.18 in Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. bought 6,099 shares of AllianceBernstein National Municipal Income Fund stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $10.82 per share, for a total transaction of $65,991.18. Following the completion of the acquisition, the insider now directly owns 3,114,146 shares in the company, valued at $33,695,059.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, May 29th, Saba Capital Management, L.P. bought 7,151 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average cost of $10.75 per share, for a total transaction of $76,873.25.
• On Thursday, May 23rd, Saba Capital Management, L.P. acquired 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $155,868.36.
• On Monday, May 20th, Saba Capital Management, L.P. acquired 67,460 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $735,314.00.
• On Wednesday, May 15th, Saba Capital Management, L.P. acquired 11,181 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average cost of $10.92 per share, for a total transaction of $122,096.52.

AllianceBernstein National Municipal Income Fund Stock Up 0.2 %

NYSE:AFB opened at $10.92 on Thursday. The firm’s fifty day moving average is $10.70 and its 200-day moving average is $10.77. AllianceBernstein National Municipal Income Fund, Inc. has a 52 week low of $8.95 and a 52 week high of $11.05.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last posted its quarterly earnings data on Friday, March 22nd. The investment management company reported $0.10 EPS for the quarter.

AllianceBernstein National Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, June 6th will be paid a dividend of $0.0327 per share. This represents a $0.39 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, June 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TCG Advisory Services LLC acquired a new position in AllianceBernstein National Municipal Income Fund during the fourth quarter worth $325,000. Blue Bell Private Wealth Management LLC bought a new position in AllianceBernstein National Municipal Income Fund during the fourth quarter valued at about $107,000. Van ECK Associates Corp grew its position in AllianceBernstein National Municipal Income Fund by 15.1% during the fourth quarter. Van ECK Associates Corp now owns 219,939 shares of the investment management company’s stock valued at $2,384,000 after buying an additional 28,935 shares during the period. AQR Arbitrage LLC grew its position in AllianceBernstein National Municipal Income Fund by 44.5% during the third quarter. AQR Arbitrage LLC now owns 236,082 shares of the investment management company’s stock valued at $2,205,000 after buying an additional 72,700 shares during the period. Finally, Saba Capital Management L.P. grew its position in AllianceBernstein National Municipal Income Fund by 227.8% during the third quarter. Saba Capital Management L.P. now owns 1,676,795 shares of the investment management company’s stock valued at $15,661,000 after buying an additional 1,165,325 shares during the period.

About AllianceBernstein National Municipal Income Fund

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.