Karpus Management Reveals 12.56% Stake in AllianceBernstein National Municipal Income Fund
AFB is trading near its 52-week low of $10.05 (12% above the low).
Summary
Karpus Management, Inc. reports a 12.56% stake in AllianceBernstein National Municipal Income Fund, acquired for investment purposes with an aggregate cost of approximately $39.3 million.
Key Events · Ownership and Investor Activity · AFB
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Karpus Management Reports 12.56% Stake
Karpus Management, Inc., a registered investment adviser, disclosed beneficial ownership of 3,609,635 common shares of AFB, representing 12.56% of the outstanding shares as of July 15, 2026.
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Aggregate Purchase Price of $39.3 Million
The stake was accumulated through open-market purchases at an aggregate cost of approximately $39,329,160.76, excluding brokerage commissions.
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Recent Trading Activity Shows Net Accumulation
Over the past 60 days, Karpus engaged in multiple purchases and sales, with net buying activity. Purchases ranged from $10.85 to $11.32 per share, while sales occurred at prices up to $11.50.
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Investment Purpose with No Current Activist Plans
Karpus states the securities were acquired for investment purposes and does not currently have any plans or proposals related to control or extraordinary corporate transactions.
Analysis · AFB · Unknown
A 12.56% stake in AFB has been accumulated by Karpus Management, a registered investment adviser, representing roughly 3.6 million shares at an aggregate cost of about $39.3 million. The position was built over time through open-market purchases, with recent activity including both buying and selling. While Karpus states the stake is for investment purposes and has no current plans for control, the size of the position—over 12% of outstanding shares—makes it a significant ownership event. The filing comes amid a proxy solicitation period, as AFB has been reminding shareholders to vote on proposals, which could add a layer of shareholder activism potential. The stock is trading near its 52-week high, which may reflect market recognition of the fund's value or the accumulation itself.
At the time of this filing, AFB was trading at $11.21 on NYSE in the Unknown sector, with a market capitalization of approximately $322.8M. The 52-week trading range was $10.05 to $11.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.