AllianceBernstein Global High Income Fund (NYSE:AWF) Reaches New 12-Month Low - Time to Sell?

Key Points

• AllianceBernstein Global High Income Fund (AWF) fell 0.4% to about $9.86, reaching a new 52-week low and trading below both its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0655 per share, implying an approximately 8.0% annualized yield; shareholders of record on October 1 will receive payment on October 16.
• Despite the price decline, a director recently bought 3,432 shares, while several large institutional investors—including Bank of America and Landscape Capital Management—initiated or increased positions.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $9.85 and last traded at $9.8550, with a volume of 26122 shares trading hands. The stock had previously closed at $9.89.

AllianceBernstein Global High Income Fund Trading Down 0.4%

The business's 50-day moving average price is $10.09 and its 200-day moving average price is $10.18.

AllianceBernstein Global High Income Fund Announces Dividend

The business 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 dividend of $0.0655 per share. This represents a c) annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Thursday, October 1st.

Insider Buying and Selling at AllianceBernstein Global High Income Fund

In other news, Director Emilie Wrapp bought 3,432 shares of the stock in a transaction dated Tuesday, July 21st. The shares were acquired 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. The trade was a 143.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AllianceBernstein Global High Income Fund

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position 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 worth $12,727,000 after acquiring an additional 11,182 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of AllianceBernstein Global High Income Fund during the 2nd quarter valued at $6,094,000. Landscape Capital Management L.L.C. acquired a new stake in shares of AllianceBernstein Global High Income Fund during the 2nd quarter worth $2,400,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of AllianceBernstein Global High Income Fund by 4.5% during the 2nd 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 raised its position in shares of AllianceBernstein Global High Income Fund by 12.9% in the 4th quarter. Fiera Capital Corp now owns 196,885 shares of the closed-end fund's stock worth $2,105,000 after buying an additional 22,501 shares during the period.

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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