Municipal Income Fund Q1 Net Income Up 24%, NAV Drops to $12.09
AllianceBernstein National Municipal Income Fund reported Q1 net investment income rose to $4.78M ($0.17/share) from $3.85M last quarter, while net realized/unrealized loss was $3.70M ($0.13/share). NAV per share fell to $12.09 from $12.20, driving net assets down to $347.5M.
1. Q1 Income and Investment Losses
The fund generated $4.78M of total net investment income in Q1, or $0.17 per share, up from $3.85M ($0.13) in the prior quarter. It recorded a $3.70M net realized and unrealized loss, or $0.13 per share, reversing the previous quarter’s $28.03M gain.
2. NAV and Net Assets Movement
Total net assets declined to $347.5M as of January 31, 2026, down from $350.8M at October-end and $357.2M year-over-year. NAV per share decreased to $12.09 from $12.20 in Q4 and $12.43 in Q1 of last year, while share count remained 28.74M.
3. Management and Fund Strategy
The closed-end fund, managed by AllianceBernstein L.P., maintains a portfolio of municipal bonds aiming for tax-exempt income. Investors may assess the recent NAV compression and investment performance when evaluating future dividends and market conditions.