Loading
Alliancebernstein National Municipal Income Fund Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest was filed 27 May 2026.
Alliancebernstein National Municipal Income Fund: what insiders have been doing
This page follows insider dealings at Alliancebernstein National Municipal Income Fund as filed with SEC (Form 4), a company from the Finance & Banking sector. Between 18 October 2025 and 18 October 2026, 4 insiders published 11 filings.
Both sides are active: 2 purchases worth €110k and 8 sales worth €1.1M, from 2 insiders and 2 insiders respectively. Sales outweigh purchases by €1.0M. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. One trade stands out by size: a sale of €295k from Saba Capital Management, L.P., disclosed on 6 November 2025. Those buying include 2 senior executives.
With 11 filings in twelve months, the company is quieter than the median of 19 filings across the 5,816 companies we follow on the same exchange. Looking back to 2021, when coverage begins, insiders filed 11 purchases and 19 sales.
The latest purchase dates back some time: it was published 144 days ago, on 27 May 2026. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. Section 16 rules allow two business days to file each Form 4. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives.
For comparison within the same sector, see the insider buying recorded at First Guaranty Bancshares, Inc. and BCB Bancorp Inc. This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
33
Thresholds
n/a
Buy Volume
€2M
11 ops. · all time
Sell Volume
€2M
19 ops. · all time
Who traded when
BuySaleSaba Capital Management, L.P.17 sales
Garry L. Moody1 buy1 sale
R. Jay Gerken1 buy
Since the insiders bought
- -12.2%Entry US$11.19 · Close 16 Oct 2026 US$9.83
- -10.6%Entry US$11.00 · Close 16 Oct 2026 US$9.83
- -7.4%Entry US$11.03 · Close at T+365 US$10.21
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2025FY ended October 2025 · cache
US$10.03
Analyst consensus
Income statement
RevenueUS$3.8M
Net incomeUS$3.4M82.2% margin
Valuation
PER (trailing)12.5x
P/Book0.8x
Beta0.67
Balance sheet & cash
Market capUS$288.3M
Total debtUS$132.1M
Free Cash FlowUS$14.1M
Debt / Equity67%
Profitability & ownership
ROE6.8%
ROA2.7%
% insiders0.0%
% institutions67.1%
Last declaration on 27 May 2026
Declarations33 total
2,500 shares@ US$10.9550.0075% mcap100.0% of flowCommon StockSEC:0000919574-26-003710:0
Canonical exit: 20 Aug 2026 (T+90)
13,500 shares@ US$10.960.044% mcap47.8% of flowCommon StockSEC:0000919574-26-002334:0
19,623 shares@ US$10.914.7% of flowCommon StockSEC:0001510281-25-000563:0
30,873 shares@ US$11.017.4% of flowCommon StockSEC:0001510281-25-000561:0
684 shares@ US$11.010.2% of flowCommon StockSEC:0001510281-25-000555:0
9,000 shares@ US$11.0832.7% of flowCommon StockSEC:0000919574-25-006381:0
Canonical exit: 29 Jan 2026 (T+90)
7,693 shares@ US$11.001.8% of flowCommon StockSEC:0001510281-25-000542:0
3,531 shares2018 Variable Rate MuniFund Term Preferred SharesSEC:0001193125-25-256248:0
25,686 shares@ US$10.996.1% of flowCommon StockSEC:0001510281-25-000534:0
21,442 shares@ US$10.965.1% of flowCommon StockSEC:0001510281-25-000528:0
1,955 shares@ US$11.030.5% of flowCommon StockSEC:0001510281-25-000522:0
2,509 shares@ US$10.900.6% of flowCommon StockSEC:0001510281-25-000512:0
59,548 shares@ US$10.9414.0% of flowCommon StockSEC:0001510281-25-000503:0
4,244 shares@ US$10.911.0% of flowCommon StockSEC:0001510281-25-000499:0
1,900 shares@ US$10.920.4% of flowCommon StockSEC:0001510281-25-000499:1
22,486 shares@ US$10.945.2% of flowCommon StockSEC:0001510281-25-000493:0
4,100 shares@ US$10.650.9% of flowCommon StockSEC:0001510281-25-000464:0
7,873 shares@ US$10.361.8% of flowCommon StockSEC:0001510281-25-000450:0
20,389 shares@ US$10.374.6% of flowCommon StockSEC:0001510281-25-000437:0
6,214 shares@ US$10.421.4% of flowCommon StockSEC:0001510281-25-000437:1
515 shares@ US$10.390.1% of flowCommon StockSEC:0001510281-25-000437:2
2,525 sharesCommon StockSEC:0001140361-24-049522:0
Canonical exit: 15 May 2013 (T+90)
34,874 shares@ US$11.059.1% of flowCommon StockSEC:0001510281-24-000339:0
Canonical exit: 22 Sept 2024 (T+90)
6,099 shares@ US$10.821.5% of flowCommon StockSEC:0001510281-24-000324:0
Canonical exit: 5 Sept 2024 (T+90)
5,754 sharesVariable Rate Muni Term Preferred SharesSEC:0001140361-24-029626:0
25 of 33 declarations
About Alliancebernstein National Municipal Income Fund
AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) is a US-listed closed-end fixed-income fund focused on municipal bonds and tax-advantaged income. For international and francophone investors, it should be understood as a professionally managed municipal bond vehicle rather than an operating company. Its primary objective is to seek high current income exempt from regular federal income tax, while also targeting total return through active portfolio management. The fund is described by AllianceBernstein as a nationally diversified municipal bond portfolio built around a repeatable investment process combining quantitative tools and fundamental research. ([alliancebernstein.com](https://www.alliancebernstein.com/us/en-us/investments/products/closed-end-funds/fixed-income/alliancebernstein-national-municipal-income-fund.-.01864U106.html))
AFB is managed within the broader AllianceBernstein platform, one of the major global asset managers. AB states that it has more than 50 years of experience, more than 50 locations worldwide, and a large research organization spanning portfolio managers and analysts. That matters because the fund can leverage the firm’s municipal-bond research, credit work, and active-management infrastructure. In competitive terms, this is an important advantage versus smaller municipal closed-end funds that may have less scale, narrower research coverage, or more limited flexibility. ([alliancebernstein.com](https://www.alliancebernstein.com/us/en-us/investments/about-us.html))
Read moreShow less
From an investment-policy perspective, the fund invests substantially all of its assets in municipal bonds whose interest is exempt from US federal income tax, with at least 75% of net assets in investment-grade municipals and up to 25% in high-yield municipal bonds. The mandate also allows meaningful state concentration when the manager sees an attractive opportunity set. This gives the portfolio room to express active views on duration, credit quality, and sector allocation within the US municipal market. For investors, the trade-off is clear: attractive after-tax income potential, but also exposure to interest-rate volatility, credit spread risk, and the market-price effects typical of closed-end funds trading at discounts or premiums to NAV. ([alliancebernstein.com](https://www.alliancebernstein.com/us/en-us/investments/products/closed-end-funds/fixed-income/alliancebernstein-national-municipal-income-fund.-.01864U106.html))
The fund is based in New York, New York, at 66 Hudson Boulevard East, and its shares are listed and traded on the New York Stock Exchange in the United States. Its portfolio is national in scope, with holdings across multiple states rather than a single-state focus. The latest annual report shows New York among the larger state exposures, illustrating the fund’s ability to allocate where it sees the best relative value in the muni market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001162027/000119312526000828/d81711dncsr.htm))
Recent developments have remained centered on the municipal bond backdrop rather than on corporate operations, which is normal for a closed-end fund. In 2025 and early 2026, AllianceBernstein’s municipal market commentary highlighted elevated muni yields, strong demand, significant fund inflows, and expectations for rate cuts as supportive factors for the asset class. The fund’s most recent SEC annual report for the year ended October 31, 2025, also confirms its NYSE listing and ongoing governance/reporting structure. In addition, AFB has continued to appear in SEC Form 4-related market monitoring, reflecting the trading interest that often surrounds listed closed-end funds and ownership shifts by large holders. ([alliancebernstein.com](https://www.alliancebernstein.com/us/en-us/investments/insights/investment-insights/2026-municipal-market-outlook-high-after-tax-yields-in-an-uncertain-world.html?utm_source=openai))
Recent ranked signals in the same sector
Purchases our model currently ranks for the recommendations list.
All recommendations
