Smith Asset Management Co. LLC Takes Position in AllianceBernstein Global High Income Fund, Inc. $AWF

Key Points

• Smith Asset Management Co. LLC has invested approximately $4.57 million in AllianceBernstein Global High Income Fund, acquiring 425,597 shares, which now represents 4.3% of its portfolio.
• AllianceBernstein Global High Income Fund recently announced a monthly dividend of $0.0655, translating to an annualized yield of approximately 7.0%.
• The fund's stock has shown notable performance, with a one-year range between a low of $9.30 and a high of $11.36, closing at $11.29 recently.

Smith Asset Management Co. LLC acquired a new stake in shares of AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 425,597 shares of the closed-end fund's stock, valued at approximately $4,567,000. AllianceBernstein Global High Income Fund accounts for about 4.3% of Smith Asset Management Co. LLC's holdings, making the stock its 5th largest holding. Smith Asset Management Co. LLC owned 0.49% of AllianceBernstein Global High Income Fund as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of AllianceBernstein Global High Income Fund by 4.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,812 shares of the closed-end fund's stock worth $341,000 after purchasing an additional 1,453 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of AllianceBernstein Global High Income Fund during the 1st quarter worth $317,000. LPL Financial LLC lifted its stake in shares of AllianceBernstein Global High Income Fund by 3.9% during the 1st quarter. LPL Financial LLC now owns 960,855 shares of the closed-end fund's stock worth $10,310,000 after purchasing an additional 35,714 shares during the period. Invesco Ltd. lifted its stake in shares of AllianceBernstein Global High Income Fund by 22.5% during the 1st quarter. Invesco Ltd. now owns 1,058,145 shares of the closed-end fund's stock worth $11,354,000 after purchasing an additional 194,351 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of AllianceBernstein Global High Income Fund by 10.6% during the 1st quarter. Raymond James Financial Inc. now owns 394,956 shares of the closed-end fund's stock worth $4,238,000 after purchasing an additional 37,852 shares during the period.

AllianceBernstein Global High Income Fund Stock Performance

NYSE:AWF traded down $0.01 during trading hours on Friday, reaching $11.22. 224,152 shares of the company were exchanged, compared to its average volume of 195,976. AllianceBernstein Global High Income Fund, Inc. has a 52-week low of $9.30 and a 52-week high of $11.36. The stock has a 50 day simple moving average of $11.15 and a 200 day simple moving average of $10.83.

AllianceBernstein Global High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 19th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.0655 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a c) dividend on an annualized basis and a yield of 7.0%.

AllianceBernstein Global High Income Fund Company Profile

AllianceBernstein Global High Income Fund is a close-ended fixed income mutual fund launched and managed by AllianceBernstein L.P. It invests in fixed income markets across the globe. The fund primarily invests in lower-rated corporate debt securities and government bonds. It employs a combination of fundamental and quantitative analysis to create its portfolio.