Short Interest in AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) Expands By 168.4%
by Danessa Lincoln · The Markets DailyAllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 82,765 shares, an increase of 168.4% from the February 26th total of 30,832 shares. Based on an average trading volume of 136,174 shares, the days-to-cover ratio is currently 0.6 days.
AllianceBernstein National Municipal Income Fund Trading Down 0.9%
Shares of AFB traded down $0.09 during mid-day trading on Friday, reaching $10.41. The company had a trading volume of 70,927 shares, compared to its average volume of 120,363. The company’s 50 day simple moving average is $10.91 and its 200 day simple moving average is $10.88. AllianceBernstein National Municipal Income Fund has a 1-year low of $9.78 and a 1-year high of $11.13.
AllianceBernstein National Municipal Income Fund (NYSE:AFB – Get Free Report) last released its quarterly earnings data on Friday, December 26th. The investment management company reported $0.13 earnings per share (EPS) for the quarter.
AllianceBernstein National Municipal Income Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.0502 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Thursday, April 2nd.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in AFB. Elyxium Wealth LLC bought a new stake in AllianceBernstein National Municipal Income Fund during the 4th quarter worth approximately $43,000. Global Retirement Partners LLC raised its stake in shares of AllianceBernstein National Municipal Income Fund by 367.0% during the fourth quarter. Global Retirement Partners LLC now owns 4,670 shares of the investment management company’s stock valued at $51,000 after acquiring an additional 3,670 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of AllianceBernstein National Municipal Income Fund during the third quarter valued at $65,000. Geneos Wealth Management Inc. lifted its holdings in shares of AllianceBernstein National Municipal Income Fund by 328.5% during the first quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock worth $79,000 after purchasing an additional 5,608 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of AllianceBernstein National Municipal Income Fund during the second quarter worth $103,000.
About AllianceBernstein National Municipal Income Fund
AllianceBernstein National Municipal Income Fund (NYSE: AFB) is a closed-end management investment company that primarily seeks to provide shareholders with a high level of federally tax-exempt income. The fund invests predominantly in a diversified portfolio of investment-grade municipal securities issued by U.S. state and local governments, authorities and agencies. These instruments include general obligation bonds, revenue bonds and other municipal debt obligations that offer tax-advantaged income potential for investors.
Under the management of AllianceBernstein L.P., the fund’s portfolio is constructed and monitored by a dedicated team of municipal credit analysts and portfolio managers.