Insider Buying: AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Major Shareholder Buys 34,874 Shares of Stock

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) major shareholder Saba Capital Management, L.P. acquired 34,874 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 3,149,020 shares in the company, valued at approximately $34,796,671. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 7th, Saba Capital Management, L.P. bought 6,099 shares of AllianceBernstein National Municipal Income Fund stock. The stock was purchased at an average price of $10.82 per share, with a total value of $65,991.18.
• On Wednesday, May 29th, Saba Capital Management, L.P. purchased 7,151 shares of AllianceBernstein National Municipal Income Fund stock. The shares were acquired at an average price of $10.75 per share, for a total transaction of $76,873.25.
• On Thursday, May 23rd, Saba Capital Management, L.P. purchased 14,379 shares of AllianceBernstein National Municipal Income Fund stock. The stock was acquired at an average cost of $10.84 per share, with a total value 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 shares were bought at an average cost of $10.90 per share, with a total value of $735,314.00.
• On Wednesday, May 15th, Saba Capital Management, L.P. bought 11,181 shares of AllianceBernstein National Municipal Income Fund stock. The shares were purchased at an average price of $10.92 per share, with a total value of $122,096.52.

AllianceBernstein National Municipal Income Fund Stock Performance

Shares of AllianceBernstein National Municipal Income Fund stock opened at $11.10 on Friday. The business has a 50 day moving average of $10.82 and a 200 day moving average of $10.81. AllianceBernstein National Municipal Income Fund, Inc. has a 52 week low of $8.95 and a 52 week high of $11.14.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 6th were paid a $0.0327 dividend. This represents a $0.39 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Thursday, June 6th.

Institutional Trading of AllianceBernstein National Municipal Income Fund

Several large investors have recently bought and sold shares of AFB. Saba Capital Management L.P. lifted its stake in shares of AllianceBernstein National Municipal Income Fund by 227.8% in the 3rd 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 purchasing an additional 1,165,325 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of AllianceBernstein National Municipal Income Fund by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 844,076 shares of the investment management company’s stock valued at $9,150,000 after buying an additional 11,087 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of AllianceBernstein National Municipal Income Fund by 31.3% in the 1st quarter. Advisors Asset Management Inc. now owns 305,880 shares of the investment management company’s stock worth $3,362,000 after buying an additional 72,914 shares during the period. Van ECK Associates Corp increased its stake in shares of AllianceBernstein National Municipal Income Fund by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 250,533 shares of the investment management company’s stock worth $2,753,000 after acquiring an additional 30,594 shares in the last quarter. Finally, AQR Arbitrage LLC lifted its position in AllianceBernstein National Municipal Income Fund by 44.5% during the 3rd quarter. AQR Arbitrage LLC now owns 236,082 shares of the investment management company’s stock valued at $2,205,000 after acquiring an additional 72,700 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.