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.
AllianceBernstein National Municipal Income Fund (NYSE: AFB) reported its first fiscal quarter earnings for the period ending January 31, 2023. The Fund's total net assets increased to $363,197,307 from $324,484,588 on October 31, 2022, though down from $422,744,994 a year prior. The net asset value (NAV) per share as of January 31, 2023, was $12.64 based on 28,744,936 shares outstanding. Total net investment income for the quarter was $3,132,331 or $0.11 per share, with a net realized and unrealized gain of $38,745,492 or $1.35 per share.
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