AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB – Get Free Report) announced a monthly dividend on Wednesday, July 24th, Wall Street Journal reports. Stockholders of record on Thursday, August 1st will be given 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 Stock Performance
Shares of AFB traded down $0.05 during trading hours on Wednesday, hitting $11.16. 52,083 shares of the company were exchanged, compared to its average volume of 68,744. The firm has a fifty day simple moving average of $11.02 and a 200-day simple moving average of $10.86. AllianceBernstein National Municipal Income Fund has a one year low of $8.95 and a one year high of $11.32.
Insiders Place Their Bets
In other AllianceBernstein National Municipal Income Fund news, major shareholder Saba Capital Management, L.P. acquired 67,460 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $735,314.00. Following the completion of the purchase, the insider now owns 3,039,614 shares of the company’s stock, valued at approximately $33,131,792.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 141,144 shares of company stock valued at $1,541,501 over 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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