AllianceBernstein National Municipal Income Fund Reports Earnings Results for the First Quarter Ended January 31, 2017
March 01, 2017 at 02:36 am IST
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AllianceBernstein National Municipal Income Fund reported earnings results for the first quarter ended January 31, 2017. For the quarter, the company reported total net investment income of $4,850,691 or $0.17 per share compared to $5,432,666 or $0.19 per share a year ago. Total net realized/unrealized loss was $24,819,874 or $0.86 per share compared to total net realized/unrealized income of $15,652,542 or $0.54 per share a year ago. NAV per share was $14.49 compared to $15.41 a year ago.
AllianceBernstein National Municipal Income Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to provide high current income exempt from regular federal income tax. The Fund is focused on investing approximately 80%, and normally substantially all, of its net assets in municipal securities paying interest that is exempt from regular federal income tax. The Fund also normally invest at least 75% of its assets in investment-grade municipal securities or unrated municipal securities. The Fund may invest up to 25% of its net assets in municipal bonds rated below investment-grade and unrated municipal bonds. The Fund also invests in securities of other open- or closed-end investment companies that invest primarily in municipal bonds of the types in which the Fund invests directly. The Fund's investment adviser is AllianceBernstein L.P.