AllianceBernstein National Municipal Income Fund (NYSE:AFB) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

AllianceBernstein National Municipal Income Fund, Inc. (NYSE:AFB) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.02 and traded as low as $10.93. AllianceBernstein National Municipal Income Fund shares last traded at $10.9490, with a volume of 113,025 shares changing hands.

AllianceBernstein National Municipal Income Fund Stock Performance

The company has a 50-day simple moving average of $11.16 and a 200-day simple moving average of $11.02.

AllianceBernstein National Municipal Income Fund (NYSE:AFB) last issued its quarterly earnings results on Friday, June 26th. The investment management company reported $0.15 earnings per share for the quarter.

AllianceBernstein National Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 21st. Investors of record on Thursday, August 6th will be given a $0.0502 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 6th.

Insider Buying and Selling

In other news, Director R Jay Gerken purchased 2,500 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $10.96 per share, for a total transaction of $27,400.00. Following the purchase, the director owned 2,500 shares in the company, valued at $27,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Elyxium Wealth LLC acquired a new position in AllianceBernstein National Municipal Income Fund in the 4th quarter worth about $43,000. Global Retirement Partners LLC lifted its position in 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 worth $51,000 after buying an additional 3,670 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of AllianceBernstein National Municipal Income Fund by 328.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,315 shares of the investment management company’s stock valued at $79,000 after acquiring an additional 5,608 shares during the last quarter. Nomura Holdings Inc. acquired a new position in AllianceBernstein National Municipal Income Fund in the 2nd quarter valued at about $103,000. Finally, Captrust Financial Advisors acquired a new position in AllianceBernstein National Municipal Income Fund in the second quarter valued at approximately $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.