AllianceBernstein Global High Income Fund (NYSE:AWF) Reaches New 1-Year Low - Time to Sell?

Key Points

• AWF fell to a new 52-week low of $9.70, below its 50-day moving average of $10.06 and 200-day average of $10.16.
• The fund declared a monthly dividend of $0.0655 per share, equivalent to approximately $0.79 annually and an 8.1% yield.
• Director Emilie Wrapp purchased 3,432 shares, while several institutional investors—including Bank of America and Landscape Capital Management—established or increased positions.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) hit a new 52-week low on Tuesday. The company traded as low as $9.70 and last traded at $9.7150, with a volume of 280736 shares trading hands. The stock had previously closed at $9.77.

AllianceBernstein Global High Income Fund Price Performance

The firm's fifty day moving average is $10.06 and its two-hundred day moving average is $10.16.

AllianceBernstein Global High Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 1st will be paid a dividend of $0.0655 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Thursday, October 1st.

Insider Buying and Selling

In other news, Director Emilie Wrapp bought 3,432 shares of the company's stock in a transaction that occurred on Tuesday, July 21st. The shares were purchased at an average price of $10.19 per share, with a total value of $34,972.08. Following the completion of the acquisition, the director directly owned 5,825 shares in the company, valued at approximately $59,356.75. This trade represents a 143.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Trading of AllianceBernstein Global High Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in AllianceBernstein Global High Income Fund by 0.9% during the first quarter. Royal Bank of Canada now owns 1,251,424 shares of the closed-end fund's stock valued at $12,727,000 after purchasing an additional 11,182 shares during the last quarter. Bank of America Corp DE bought a new stake in AllianceBernstein Global High Income Fund during the second quarter worth approximately $6,094,000. Landscape Capital Management L.L.C. acquired a new position in AllianceBernstein Global High Income Fund in the second quarter worth approximately $2,400,000. Hennion & Walsh Asset Management Inc. grew its position in AllianceBernstein Global High Income Fund by 4.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 210,755 shares of the closed-end fund's stock worth $2,171,000 after buying an additional 9,074 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of AllianceBernstein Global High Income Fund by 12.9% in the fourth quarter. Fiera Capital Corp now owns 196,885 shares of the closed-end fund's stock valued at $2,105,000 after buying an additional 22,501 shares in the last quarter.

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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