AllianceBernstein National Municipal Income Fund, Inc. Reports Second Quarter Earnings

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported earnings for its second fiscal quarter ending April 30, 2020. Total net assets decreased to $398,667,599 from $448,877,397 in January 2020. The net asset value per share is now $13.87, down from $15.62. During this quarter, total net investment income was $3,536,783 or $0.12 per share, with a significant net realized and unrealized loss of ($44,635,062) or (1.55) per share.

Positive

• None.

Negative

• Total net assets fell from $448,877,397 to $398,667,599.
• Net asset value per share decreased from $15.62 to $13.87.
• Total net investment income dropped to $3,536,783 from $4,089,275.
• Net realized and unrealized loss of ($44,635,062) reported.

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NEW YORK, June 26, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed–end investment company, today announced earnings for the Fund's second fiscal quarter ended April 30, 2020.

Total net assets of the Fund* on April 30, 2020 were $398,667,599 as compared with $448,877,397 on January 31, 2020, and $426,858,609 on April 30, 2019. On April 30, 2020, the net asset value per share of common stock was $13.87 based on 28,744,936 shares of common stock outstanding.

		April 30, 2020		January 31, 2020		April 30, 2019
Total Net Assets		$398,677,599		$448,877,397		$426,858,609
NAV Per Share		$13.87		$15.62		$14.75
Shares Outstanding		28,744,936		28,744,936		28,744,936

For the period February 1, 2020 through April 30, 2020, total net investment income was $3,536,783 or $0.12 per share of common stock. The total net realized and unrealized loss was ($44,635,062) or ($1.55) per share of common stock for the same period.

		Second Quarter Ended April 30, 2020		First Quarter Ended January 31, 2020		Second Quarter Ended April 30, 2019
Total Net Investment Income		$3,536,783		$4,089,275		$3,719,936
Per Share		$0.12		$0.14		$0.13
Total Net Realized/Unrealized Gain (Loss)		($44,635,062)		$10,900,969		$18,610,684
Per Share		($1.55)		$0.38		$0.65

* Total net assets include assets attributable to both common and preferred shares.

AllianceBernstein National Municipal Income Fund, Inc. is managed by AllianceBernstein L.P.

View original content:http://www.prnewswire.com/news-releases/alliancebernstein-national-municipal-income-fund-inc-reports-second-quarter-earnings-301084466.html

SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the latest earnings results for AFB?

AFB reported total net investment income of $3,536,783 or $0.12 per share for the second quarter ended April 30, 2020.

What was the net asset value per share for AFB?

The net asset value per share for AFB as of April 30, 2020, was $13.87.

How much did AFB's total net assets decrease?

AFB's total net assets decreased from $448,877,397 on January 31, 2020, to $398,667,599 on April 30, 2020.

What was the loss reported by AFB for the second quarter?

AFB reported a net realized and unrealized loss of ($44,635,062) or ($1.55) per share.