AllianceBernstein Global High Income Fund (NYSE:AWF) Stock Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• AWF crossed above its 50-day moving average — the 50-day MA is $10.31, the stock traded as high as $10.48 and last at $10.4650, up roughly 0.1% on the move.
• Monthly dividend announced — a $0.0655 payment payable May 15 (record and ex-dividend date May 7), implying an annualized yield of about 7.5%.
• Insider sale and institutional shifts — VP Gershon M. Distenfeld sold 5,462 shares on Feb. 5 (a ~26.96% reduction in his holding); insiders own ~1% overall, while several hedge funds and advisors modestly increased or initiated positions.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $10.31 and traded as high as $10.48. AllianceBernstein Global High Income Fund shares last traded at $10.4650, with a volume of 251,210 shares.

AllianceBernstein Global High Income Fund Stock Up 0.1%

The company's fifty day simple moving average is $10.31 and its 200 day simple moving average is $10.59.

AllianceBernstein Global High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, May 7th will be issued a $0.0655 dividend. The ex-dividend date is Thursday, May 7th. This represents a c) annualized dividend and a yield of 7.5%.

Insider Buying and Selling at AllianceBernstein Global High Income Fund

In other AllianceBernstein Global High Income Fund news, VP Gershon M. Distenfeld sold 5,462 shares of the firm's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $10.57, for a total transaction of $57,733.34. Following the completion of the transaction, the vice president owned 14,801 shares of the company's stock, valued at approximately $156,446.57. This trade represents a 26.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On AllianceBernstein Global High Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC increased its position in shares of AllianceBernstein Global High Income Fund by 64.3% during the fourth quarter. CWM LLC now owns 4,429 shares of the closed-end fund's stock valued at $47,000 after acquiring an additional 1,733 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of AllianceBernstein Global High Income Fund during the third quarter valued at approximately $47,000. Strategic Advocates LLC bought a new stake in shares of AllianceBernstein Global High Income Fund during the third quarter valued at approximately $59,000. MAI Capital Management increased its position in shares of AllianceBernstein Global High Income Fund by 370.0% during the third quarter. MAI Capital Management now owns 7,567 shares of the closed-end fund's stock valued at $85,000 after acquiring an additional 5,957 shares in the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of AllianceBernstein Global High Income Fund during the third quarter valued at approximately $113,000.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund NYSE: AWF is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital growth. The fund is traded on the New York Stock Exchange and offers investors access to a diversified portfolio of global fixed-income securities designed to capitalize on opportunities in the high-yield credit market.

The fund primarily invests in a broad array of debt instruments, including corporate high-yield bonds, sovereign and quasi-sovereign debt, collateralized loan obligations, convertible securities, and other income-oriented instruments.

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