STOCK TITAN

Alliance National Municipal Income Fund, Inc. - AFB STOCK NEWS

Welcome to our dedicated page for Alliance National Municipal Income Fund news (Ticker: AFB), a resource for investors and traders seeking the latest updates and insights on Alliance National Municipal Income Fund stock.

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) is a closed-end management investment company managed by AllianceBernstein L.P., a leading global investment-management and research firm. The Fund aims to provide high current income exempt from regular federal income tax by investing primarily in municipal securities. These securities pay interest that is exempt from federal income tax, making them an attractive option for income-seeking investors.

With a comprehensive portfolio, AFB leverages AllianceBernstein's extensive expertise and innovative strategies to shape investment solutions tailored to meet the evolving needs of their clients. The Fund's strategy focuses on maintaining a diversified portfolio, actively managed to navigate market conditions and maximize potential returns.

As of January 31, 2024, the total net assets of the Fund stood at $364,468,619, an increase from $311,650,529 on October 31, 2023. The net asset value per share of common stock was $12.68 based on 28,744,936 shares of common stock outstanding. The Fund reported a total net investment income of $2,897,982 or $0.10 per share of common stock for the same period. Additionally, the total net realized and unrealized gain was $52,736,537 or $1.83 per share of common stock.

Recent financial updates highlight the Fund's ongoing efforts to optimize its leverage structure. In June 2024, AFB completed the issuance of $100 million in Variable Rate Demand Preferred Shares (VRDPS). This move allowed the Fund to successfully redeem its 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS), thereby replacing a substantial portion of leverage with the new preferred shares, which are expected to offer more favorable terms.

The strategic financial maneuvers underscore AFB's commitment to enhancing value for its shareholders while maintaining a robust investment portfolio. The Fund's proactive management and strategic adjustments reflect its resilience and adaptability in the dynamic financial landscape.

For more detailed information about the Fund's performance and latest updates, visit the official announcement.

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund [NYSE: AFB] has released its monthly portfolio update as of October 31, 2024. The fund's total net assets stand at $361.43 Million, with a common stock net asset value of $12.57. The portfolio consists of 166 holdings with a turnover rate of 55.00%.

Key portfolio metrics include an average coupon of 4.55%, average maturity of 11.53 years, and effective duration of 8.92 years. The fund maintains significant positions in Texas (19.18%), Illinois (8.73%), and New York (7.71%). Credit quality is predominantly in AA (29.86%) and A (25.06%) rated securities, with the majority of bonds (55.94%) having maturities between 20-30 years.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.71%
Tags
none
-
Rhea-AI Summary

AllianceBernstein has announced distribution rates for its closed-end funds. The AllianceBernstein Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share, while the AllianceBernstein National Municipal Income Fund (NYSE: AFB) will distribute $0.03961 per share. Both distributions are classified as investment income and share the same schedule: ex-date, record date of December 5, 2024, and payment date of December 20, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.71%
Tags
none
-
Rhea-AI Summary

AllianceBernstein has announced distribution rates for its closed-end funds. The Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share, while the National Municipal Income Fund (NYSE: AFB) will distribute $0.03961 per share. Both distributions are classified as investment income and share the same schedule: ex-date, record date of November 7, 2024, and payment date of November 22, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.68%
Tags
none
Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) has released its monthly portfolio update as of September 30, 2024. The fund's total net assets stand at $371.52 Million, with a common stock net asset value of $12.92. The portfolio comprises 171 holdings with a 55% turnover rate.

Key portfolio metrics include an average coupon of 4.57%, average maturity of 10.09 years, and effective duration of 8.05 years. The fund maintains significant positions in Texas (19.31%), Illinois (8.77%), and Florida (7.01%). Credit quality is predominantly in AA (29.45%) and A (26.06%) ratings, with 56.06% of bonds maturing in 20-30 years. The total fund leverage is 39.49%, including various financing instruments.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.68%
Tags
none
-
Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its third fiscal quarter earnings for the period ended July 31, 2024. The Fund's total net assets increased to $363,570,286, up from $350,576,798 on April 30, 2024, and $355,617,637 on July 31, 2023. The net asset value per share rose to $12.65, based on 28,744,936 outstanding shares.

For the quarter, the Fund reported total net investment income of $3,056,703 or $0.11 per share. The total net realized and unrealized gain was $12,753,214 or $0.44 per share. This marks a significant improvement from the previous quarter's loss of $13,883,276 or $0.48 per share, and the year-ago quarter's loss of $793,105 or $0.03 per share.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.11%
Tags
-
Rhea-AI Summary

AllianceBernstein Closed-End Funds has announced distribution rates for two of its funds. AllianceBernstein Global High Income Fund, Inc. (NYSE: AWF) will distribute $0.0655 per share of investment income. AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) will distribute $0.03961 per share of investment income, which is an increase of $0.00372 from the previous distribution.

The ex-date, record date, and payment date for both funds are set for October 3, 2024, October 3, 2024, and October 18, 2024, respectively. The increase in AFB's distribution rate is aimed at aligning the Fund's monthly distributions with its current and projected earnings power. Both funds are managed by AllianceBernstein L.P.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.17%
Tags
none
Rhea-AI Summary

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of August 31, 2024. The fund's top fixed-income holding is Lamar Consolidated Independent School District Series 2024-2 at 2.71% of the portfolio. The sector breakdown shows Revenue at 51.35% and Tax Supported at 31.19% as the largest categories.

Texas leads the state breakdown at 20.17%, followed by Illinois at 9.38%. The credit quality breakdown indicates AA rated bonds at 29.69% as the largest segment. The majority of bonds (55.34%) have maturities between 20 to 30 years. The fund's total leverage is 39.32%, with VRDP Shares accounting for 16.78%. The fund's total net assets are $365.87 Million, with a common stock net asset value of $12.73.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.17%
Tags
none
-
Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) has announced a conference call scheduled for Monday, September 23, 2024, at 4:30 p.m. Eastern Time. Fund representatives will lead the discussion during this live event. Interested parties can join the call using the following details:

  • USA + Canada Toll-Free: (800) 715-9871
  • USA/International Toll: +1 (646) 307-1963
  • Canada - Toronto: (647) 932-3411
  • Conference ID: 1665940

Participants are advised to dial in about 15 minutes before the scheduled call time. A written summary of the call will be available on the company's website, www.abfunds.com, within 24 hours after the call. AFB is a registered closed-end management investment company managed by AllianceBernstein L.P.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.26%
Tags
conferences
-
Rhea-AI Summary

AllianceBernstein Closed-End Funds have announced their latest distribution rates. The AllianceBernstein Global High Income Fund (NYSE: AWF) will distribute $0.0655 per share of investment income. The AllianceBernstein National Municipal Income Fund (NYSE: AFB) will distribute $0.03589 per share, an increase of $0.00323 from its previous distribution.

For both funds, the ex-date, record date, and payment date are set for September 5, 2024, September 5, 2024, and September 20, 2024, respectively. The increase in AFB's distribution rate is aimed at aligning monthly distributions with current and projected earnings power. These closed-end funds are managed by AllianceBernstein L.P.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.44%
Tags
none
Rhea-AI Summary

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has released its monthly portfolio update as of July 31, 2024. The fund's top fixed-income holding is Lamar Consolidated Independent School District Series 2024-2 at 2.72% of the portfolio. The sector breakdown shows Revenue as the largest at 51.25%, followed by Tax Supported at 29.20%. Texas leads the state allocation at 18.42%, with Illinois and New York following. Credit quality is predominantly in the A to AA range, with 28.01% rated A and 27.95% rated AA. The fund's total leverage is 39.58%, with a total net asset value of $363.57 million. The average coupon is 4.54%, with an average maturity of 10.52 years and an effective duration of 8.14 years.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.44%
Tags
none

FAQ

What is the current stock price of Alliance National Municipal Income Fund (AFB)?

The current stock price of Alliance National Municipal Income Fund (AFB) is $11.51 as of December 11, 2024.

What is the market cap of Alliance National Municipal Income Fund (AFB)?

The market cap of Alliance National Municipal Income Fund (AFB) is approximately 330.9M.

What is the primary objective of AllianceBernstein National Municipal Income Fund, Inc.?

The Fund aims to provide high current income exempt from regular federal income tax by investing primarily in municipal securities.

Who manages AllianceBernstein National Municipal Income Fund, Inc.?

The Fund is managed by AllianceBernstein L.P., a leading global investment-management and research firm.

What was the total net asset value of AFB as of January 31, 2024?

As of January 31, 2024, the total net assets of the Fund were $364,468,619.

What recent financial updates have been announced by AFB?

AFB announced a successful issuance of $100 million in Variable Rate Demand Preferred Shares (VRDPS) in June 2024, replacing its 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS).

Where can I find the latest news and updates about AFB?

You can find the latest news and updates on the official press release page, such as the one available at PR Newswire.

How does AFB ensure tax-exempt income for its investors?

AFB invests in municipal securities that pay interest exempt from federal income tax, thus providing tax-exempt income for its investors.

What is the net asset value per share of common stock for AFB as of January 31, 2024?

The net asset value per share of common stock was $12.68 as of January 31, 2024.

What was AFB's net investment income for the first fiscal quarter ended January 31, 2024?

The Fund's total net investment income was $2,897,982 or $0.10 per share of common stock for the first fiscal quarter ended January 31, 2024.

How does AFB's management optimize the Fund's leverage structure?

AFB's management recently optimized the Fund's leverage structure by issuing $100 million in Variable Rate Demand Preferred Shares (VRDPS) and redeeming the 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS).

Who benefits from the strategic adjustments made by AFB?

The strategic adjustments are intended to enhance value for AFB's shareholders, providing more favorable terms and optimizing the Fund's leverage structure.

Alliance National Municipal Income Fund, Inc.

NYSE:AFB

AFB Rankings

AFB Stock Data

330.85M
28.75M
63.49%
0.09%
Asset Management
Financial Services
Link
United States of America
Nashville