AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF) Sees Significant Growth in Short Interest

Key Points

• Short interest in AWF more than doubled to 173,554 shares as of September 15, up 110.7% from August 31. Despite the increase, only 0.2% of shares were sold short, representing 0.7 days of average trading volume.
• AWF shares opened at $9.77, near their one-year low of $9.70 and below both the 50-day and 200-day moving averages. The fund declared a monthly dividend of $0.0655 per share, equivalent to an annualized yield of approximately 8.0%.
• Director Emilie Wrapp purchased 3,432 shares, increasing her position by 143.4%, while several institutional investors—including HighTower Advisors and Northwestern Mutual—established new positions.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 173,554 shares, a growth of 110.7% from the August 31st total of 82,389 shares. Based on an average trading volume of 249,978 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the company's shares are sold short.

AllianceBernstein Global High Income Fund Trading Down 0.1%

AWF stock opened at $9.77 on Monday. The stock has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $10.17. AllianceBernstein Global High Income Fund has a 1 year low of $9.70 and a 1 year high of $11.28.

AllianceBernstein Global High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 16th. Stockholders of record on Thursday, October 1st will be issued a $0.0655 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.0%.

Insider Activity

In related news, Director Emilie Wrapp acquired 3,432 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The stock was acquired at an average price of $10.19 per share, for a total transaction of $34,972.08. Following the completion of the acquisition, the director owned 5,825 shares of the company's stock, valued at $59,356.75. This trade represents a 143.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of AllianceBernstein Global High Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of AWF. Fifth Third Bancorp acquired a new position in shares of AllianceBernstein Global High Income Fund during the 1st quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in AllianceBernstein Global High Income Fund in the 2nd quarter valued at about $173,000. Procyon Advisors LLC bought a new position in AllianceBernstein Global High Income Fund during the first quarter worth about $335,000. Global Retirement Partners LLC bought a new position in AllianceBernstein Global High Income Fund during the second quarter worth about $398,000. Finally, HighTower Advisors LLC bought a new position in shares of AllianceBernstein Global High Income Fund during the 2nd quarter worth approximately $414,000.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund, Inc NYSE: AWF is a closed-end investment company managed by AllianceBernstein L.P. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of global fixed-income securities.

The fund primarily invests in below-investment-grade, or high-yield, debt issued by corporations and governments. Its portfolio may include bonds and other debt securities from developed and emerging markets, allowing the fund to pursue income opportunities across multiple regions, industries and currencies while maintaining a global investment mandate.

AllianceBernstein L.P., an investment-management firm and subsidiary of Equitable Holdings, provides the fund's portfolio management and research capabilities.

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