AllianceBernstein Global High Income Fund (NYSE:AWF) VP Gershon Distenfeld Sells 5,462 Shares

Key Points

• Insider sale: VP Gershon Distenfeld sold 5,462 shares on Feb. 5 at an average price of $10.57 (≈$57,733), reducing his ownership by 26.96% to 14,801 shares valued at about $156,447.
• Dividend announced: The fund declared a monthly dividend of $0.0655 (ex- and record date Apr. 2, payable Apr. 17), implying an approximate 7.7% yield.
• Significant institutional buying: Northwestern Mutual added 1,182,821 shares to reach 1,201,054 shares, while Invesco and other managers also materially increased their stakes in AWF.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) VP Gershon Distenfeld sold 5,462 shares of the firm's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $10.57, for a total value of $57,733.34. Following the completion of the sale, the vice president directly owned 14,801 shares in the company, valued at $156,446.57. This trade represents a 26.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AllianceBernstein Global High Income Fund Stock Performance

NYSE:AWF traded up $0.03 during trading hours on Tuesday, hitting $10.20. The company's stock had a trading volume of 390,301 shares, compared to its average volume of 350,109. The stock has a fifty day simple moving average of $10.37 and a 200-day simple moving average of $10.67. AllianceBernstein Global High Income Fund, Inc. has a twelve month low of $9.71 and a twelve month high of $11.43.

AllianceBernstein Global High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be paid a $0.0655 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a c) annualized dividend and a yield of 7.7%.

Institutional Trading of AllianceBernstein Global High Income Fund

Several large investors have recently bought and sold shares of AWF. Gridiron Partners LLC acquired a new stake in shares of AllianceBernstein Global High Income Fund during the third quarter valued at about $463,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of AllianceBernstein Global High Income Fund by 6,487.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,201,054 shares of the closed-end fund's stock valued at $12,839,000 after purchasing an additional 1,182,821 shares in the last quarter. Invesco Ltd. boosted its stake in shares of AllianceBernstein Global High Income Fund by 18.8% during the fourth quarter. Invesco Ltd. now owns 1,031,213 shares of the closed-end fund's stock valued at $11,024,000 after purchasing an additional 163,009 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of AllianceBernstein Global High Income Fund during the fourth quarter valued at about $1,510,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of AllianceBernstein Global High Income Fund by 375.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 135,955 shares of the closed-end fund's stock valued at $1,453,000 after purchasing an additional 107,383 shares in the last quarter.

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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