AllianceBernstein Global High Income Fund (NYSE:AWF) Hits New 12-Month Low - What's Next?

Key Points

• AllianceBernstein Global High Income Fund shares hit a new 52-week low, falling to $9.48 intraday and last trading near $9.51, below both its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0655 per share, equivalent to approximately $0.79 annually and an 8.3% yield.
• Director Emilie Wrapp purchased 3,432 shares at an average price of $10.19, while several institutional investors increased their holdings during the first and second quarters.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $9.48 and last traded at $9.5050, with a volume of 119,346 shares changing hands. The stock had previously closed at $9.56.

AllianceBernstein Global High Income Fund Stock Performance

The firm's 50-day simple moving average is $9.96 and its two-hundred day simple moving average is $10.13.

AllianceBernstein Global High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 16th. Stockholders of record on Thursday, October 1st will be paid a $0.0655 dividend. This represents a $0.79 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Thursday, October 1st.

Insider Buying and Selling

In other AllianceBernstein Global High Income Fund news, Director Emilie Wrapp purchased 3,432 shares of the stock in a transaction dated Tuesday, July 21st. The stock was acquired at an average cost of $10.19 per share, for a total transaction of $34,972.08. Following the acquisition, the director owned 5,825 shares in the company, valued at $59,356.75. This trade represents a 143.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its position in AllianceBernstein Global High Income Fund by 2.8% in the second quarter. Concurrent Investment Advisors LLC now owns 47,254 shares of the closed-end fund's stock valued at $487,000 after purchasing an additional 1,273 shares during the period. Maridea Wealth Management LLC grew its holdings in AllianceBernstein Global High Income Fund by 2.7% in the 1st quarter. Maridea Wealth Management LLC now owns 56,570 shares of the closed-end fund's stock valued at $575,000 after buying an additional 1,477 shares during the period. Kestra Advisory Services LLC grew its holdings in AllianceBernstein Global High Income Fund by 4.6% in the first quarter. Kestra Advisory Services LLC now owns 42,028 shares of the closed-end fund's stock valued at $427,000 after purchasing an additional 1,853 shares during the period. Fifth Third Bancorp purchased a new stake in shares of AllianceBernstein Global High Income Fund during the 1st quarter valued at $25,000. Finally, Susquehanna International Group LLP raised its holdings in shares of AllianceBernstein Global High Income Fund by 9.2% in the 2nd quarter. Susquehanna International Group LLP now owns 45,774 shares of the closed-end fund's stock worth $471,000 after purchasing an additional 3,874 shares during the period.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund NYSE: AWF is a closed-end investment company managed by AllianceBernstein L.P. The fund seeks to provide a high level of current income by investing primarily in a globally diversified portfolio of fixed-income securities.

Its investments generally include below-investment-grade corporate bonds, emerging-market debt, and other higher-yielding securities issued by corporations, governments, and government-related entities. The portfolio may include both U.S.

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