Welcome to our dedicated page for AllianceBernstein Nat Muni news (Ticker: AFB), a resource for investors and traders seeking the latest updates and insights on AllianceBernstein Nat Muni stock.
AllianceBernstein National Municipal Income Fund, Inc. (AFB) provides investors with timely updates on its municipal securities strategies and tax-exempt income focus. This page aggregates official press releases, SEC filings, and market analyses related to this closed-end fund’s operations.
Access critical updates including quarterly earnings reports, portfolio rebalancing decisions, and capital structure adjustments. Investors will find details on the fund’s use of variable rate preferred shares, tender option bond trust activities, and responses to municipal market conditions.
Key information categories include dividend declarations, regulatory disclosures, and strategic initiatives affecting the fund’s tax-exempt income objectives. All content is sourced from verified corporate communications to ensure accuracy and compliance with financial reporting standards.
Bookmark this page for streamlined access to AFB’s latest developments in municipal bond investing and leverage management strategies. Check regularly for updates impacting income-focused portfolios and tax-advantaged investment approaches.
On June 28, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its Q2 earnings for the period ending April 30, 2024. The total net assets decreased to $350.6 million from $364.5 million on January 31, 2024, and $356.5 million on April 30, 2023.
The NAV per share declined to $12.20 from $12.68 on January 31, 2024, and $12.40 on April 30, 2023. The fund posted a total net investment income of $2.8 million, translating to $0.10 per share, for the quarter.
However, the total net realized and unrealized loss stood at $13.9 million, or $0.48 per share, versus a gain of $52.7 million in the previous quarter and a loss of $6.6 million in Q2 of the previous year. The fund's shares outstanding remained unchanged at 28,744,936.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) announced the successful pricing and placement of $100 million in Variable Rate Demand Preferred Shares (2024 VRDPS), exempt from registration under the Securities Act of 1933. The proceeds, combined with funds from tender option bond trusts, were used to redeem all outstanding 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS) at $25,000 per share, plus accumulated but unpaid dividends. The total payout for the redemption was $143.85 million. This move replaces a significant portion of the leverage previously held through the 2019 VMTPS with the new 2024 VRDPS.
AllianceBernstein Closed-End Funds announced distribution rates for two of its funds, effective May 24, 2024. The AllianceBernstein Global High Income Fund (NYSE: AWF) declared a distribution of $0.0655 per share, while the AllianceBernstein National Municipal Income Fund (NYSE: AFB) declared a distribution of $0.03266 per share. Both distributions have an ex-date and record date of June 6, 2024, with payment scheduled for June 21, 2024.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) released its monthly portfolio update as of April 30, 2024. The fund's top five fixed-income holdings include Lamar Consolidated Independent School District Series 2023-A, City of New Orleans LA Series 2021-A, Prosper Independent School District Series 2024, Melissa Independent School District Series 2023, and Dallas Independent School District Series 2024.
Notably, the fund's portfolio spans sectors like Health Care, Energy, and Airports. Texas constitutes the largest state allocation at 16.28%. The credit quality of the portfolio is predominantly high, with 16.63% AAA-rated and 29.84% AA-rated bonds. The average maturity is 12.08 years, and the effective duration is 8.28 years. The fund has total net assets of $350.58 million and a leverage percentage of 40.61%.
On May 13, 2024, AllianceBernstein National Municipal Income Fund (NYSE: AFB) announced a plan to redeem its 2019 Variable Rate MuniFund Term Preferred Shares (2019 VMTPS) and issue new Variable Rate Demand Preferred Shares (2024 VRDPS). The private offering aims to raise up to $100 million, targeted at qualified institutional buyers. The proceeds will be used along with funds from tender option bond trusts to cover the redemption of the 2019 VMTPS at $25,000 per share plus unpaid dividends, totaling $143.85 million. The redemption and issuance are conditional on successful placement and intended to occur around June 6, 2024. The initiative aims to replace existing leverage and is considered by the Fund's management to be in the best interest of shareholders.
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