AllianceBernstein Global High Income Fund (NYSE:AWF) Reaches New 52-Week Low - Here's What Happened

Key Points

• AWF shares hit a new 52-week low, falling 1.1% to $9.52 during Monday’s trading session, 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—including Bank of America—recently established new positions.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) shares reached a new 52-week low during trading on Monday. The stock traded as low as $9.52 and last traded at $9.5350, with a volume of 142618 shares. The stock had previously closed at $9.63.

AllianceBernstein Global High Income Fund Stock Down 1.1%

The business's 50 day moving average is $10.03 and its two-hundred day moving average is $10.15.

AllianceBernstein Global High Income Fund Announces Dividend

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 8.3%. The ex-dividend date is Thursday, October 1st.

Insider Transactions at AllianceBernstein Global High Income Fund

In related news, Director Emilie Wrapp bought 3,432 shares of the business's stock in a transaction 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 purchase, the director directly owned 5,825 shares in the company, valued at $59,356.75. This trade represents a 143.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On AllianceBernstein Global High Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in AllianceBernstein Global High Income Fund in the 2nd quarter valued at $2,400,000. Independent Financial Group LLC purchased a new stake in shares of AllianceBernstein Global High Income Fund in the first quarter worth $1,943,000. Bank of America Corp DE bought a new stake in AllianceBernstein Global High Income Fund during the second quarter valued at $6,094,000. Maridea Wealth Management LLC bought a new stake in AllianceBernstein Global High Income Fund during the second quarter valued at $633,000. Finally, Anchor Capital Management Group Inc purchased a new position in AllianceBernstein Global High Income Fund during the first quarter worth about $814,000.

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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