ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC. REPORTS FOURTH QUARTER EARNINGS

AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) reported its earnings for the fourth fiscal quarter ending October 31, 2025. As of this date, the Fund's total net assets stood at $350,811,480, reflecting an increase from $322,750,581 on July 31, 2025, but a decrease from $361,430,563 reported on the same date in the prior year, October 31, 2024. The net asset value (NAV) per share was recorded at $12.20, with 28,744,936 shares of common stock outstanding.

For the period from August 1, 2025, to October 31, 2025, total net investment income amounted to $3,811,647, translating to $0.13 per share. The Fund also reported a significant total net realized and unrealized gain of $28,025,102, or $0.97 per share, indicating a noteworthy performance compared to previous quarters. For instance, in the third quarter, the Fund had a total net investment income of $3,851,687 ($0.14 per share), while it also recorded losses in the second quarter of the same year at $15,775,819.

This four-fold increase in total net realized and unrealized gain from the previous quarter, where it faced losses, showcases a marked recovery in the Fund’s performance. Comparatively, last year during the same quarter, the total net investment income stood at $2,985,301, or $0.10 per share. The Fund is managed by AllianceBernstein L.P., and these earnings reflect its strategic management of municipal income investments in the current market landscape.

The AllianceBernstein National Municipal Income Fund, Inc. (NYSE: AFB) has reported notable fourth-quarter earnings for its fiscal year ending October 31, 2025. Total net assets reached approximately $350.8 million, reflecting growth compared to $322.8 million in the previous quarter but a decline from $361.4 million in the same quarter last year. The net asset value (NAV) per share stands at $12.20, an improvement from $11.23 in July 2025, indicating resilience in the fund amid volatile market conditions.

In particular, the fund generated total net investment income of $3.8 million, or $0.13 per share, which is slightly lower than the $0.14 per share reported in the previous quarter. However, the significant total net realized and unrealized gain of $28 million, translating to $0.97 per share, is a major highlight. This marks a stark contrast to the loss incurred in the third quarter, suggesting a strong recovery trend.

Investors should consider the implications of these results. The NAV increase coupled with a solid realized gain hints at a favorable investment environment for municipal bonds, particularly as interest rates stabilize. Despite the drop in total net assets year-on-year, the fund’s ability to generate positive returns indicates effective management strategies.

For potential investors, AFB appears to be a viable option for those seeking income through municipal bonds, given its current valuation and the favorable interest rate landscape. However, caution is warranted due to the underlying drop in total net assets compared to the prior year, necessitating close monitoring of future performance and market conditions. Strategic allocation into AFB, alongside broader portfolio diversification, could be beneficial as the economic landscape continues to evolve.