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

Rhea-AI Summary

AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its fourth fiscal quarter earnings on December 24, 2020. As of October 31, 2020, total net assets decreased to $429.46 million from $438.63 million in July 2020. The net asset value (NAV) per share is $14.94 with 28,744,936 shares outstanding. The fund earned $4.43 million in total net investment income, or $0.15 per share, but faced a total net realized and unrealized loss of ($9.00 million), leading to a loss of ($0.31) per share.

Positive

• None.

Negative

• Decreased total net assets from $438.63 million to $429.46 million.
• NAV per share declined from $15.26 to $14.94.
• Total net investment income decreased to $4.43 million from $4.70 million.
• Total net realized and unrealized loss of ($9.00 million) compared to a gain of $39.63 million in the previous quarter.

NEW YORK, Dec. 24, 2020 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB), a registered closed–end investment company, today announced earnings for the Fund's fourth fiscal quarter ended October 31, 2020.

Total net assets of the Fund* on October 31, 2020 were $429,461,776 as compared with $438,626,913 on July 31, 2020, and $437,837,570 on October 31, 2019. On October 31, 2020, the net asset value per share of common stock was $14.94 based on 28,744,936 shares of common stock outstanding.

	October 31, 2020	July 31, 2020	October 31, 2019
Total Net Assets	$429,461,776	$438,626,913	$437,837,570
NAV Per Share	$14.94	$15.26	$15.23
Shares Outstanding	28,744,936	28,744,936	28,744,936

For the period August 1, 2020 through October 31, 2020, total net investment income was $4,428,309 or $0.15 per share of common stock. The total net realized and unrealized loss was ($9,000,579) or ($0.31) per share of common stock for the same period.

	Fourth Quarter Ended October 31, 2020	Third Quarter Ended July 31, 2020	Fourth Quarter Ended October 31, 2019
Total Net Investment Income	$4,428,309	$4,698,453	$3,673,320
Per Share	$0.15	$0.16	$0.13
Total Net Realized/   Unrealized Gain (Loss)	($9,000,579)	$39,629,577	1,910,723
Per Share	($0.31)	$1.38	$0.07

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

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

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SOURCE AllianceBernstein National Municipal Income Fund, Inc.

FAQ

What were the total net assets of AFB as of October 31, 2020?

The total net assets of AllianceBernstein National Municipal Income Fund (AFB) were $429.46 million as of October 31, 2020.

How much was the NAV per share for AFB on October 31, 2020?

The net asset value (NAV) per share for AFB was $14.94 on October 31, 2020.

What was AFB's total net investment income for the fourth quarter of 2020?

AFB reported a total net investment income of $4.43 million, or $0.15 per share, for the fourth quarter of 2020.

Did AFB experience any realized or unrealized losses in the fourth quarter of 2020?

Yes, AFB faced a total net realized and unrealized loss of ($9.00 million) for the fourth quarter of 2020.