AllianceBernstein Global High Income Fund (NYSE:AWF) Shares Pass Below 200-Day Moving Average - What's Next?

Key Points

• AWF shares fell below their 200-day moving average of $10.19, reaching an intraday low of $9.90 before closing at $9.9250, down 0.2%.
• The fund declared a monthly dividend of $0.0655 per share, implying an annualized yield of approximately 7.9%; the dividend is payable September 18 to shareholders of record September 3.
• Institutional investors increased or initiated positions in AWF during the second quarter, including Bank of America, which purchased a stake valued at approximately $6.1 million.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.19 and traded as low as $9.90. AllianceBernstein Global High Income Fund shares last traded at $9.9250, with a volume of 523,692 shares traded.

AllianceBernstein Global High Income Fund Stock Down 0.2%

The business has a 50 day moving average price of $10.12 and a 200-day moving average price of $10.19.

AllianceBernstein Global High Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be issued a $0.0655 dividend. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Thursday, September 3rd.

Insider Transactions at AllianceBernstein Global High Income Fund

In other news, Director Emilie Wrapp acquired 3,432 shares of the stock in a transaction on Tuesday, July 21st. The stock was bought at an average price of $10.19 per share, with a total value of $34,972.08. Following the completion of the transaction, the director directly owned 5,825 shares of the company's stock, valued at $59,356.75. The trade was a 143.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of AllianceBernstein Global High Income Fund during the second quarter valued at about $414,000. Concurrent Investment Advisors LLC lifted its stake in shares of 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 worth $487,000 after acquiring an additional 1,273 shares in the last quarter. Susquehanna International Group LLP grew its stake in AllianceBernstein Global High Income Fund by 9.2% during the 2nd quarter. Susquehanna International Group LLP now owns 45,774 shares of the closed-end fund's stock valued at $471,000 after purchasing an additional 3,874 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new stake in AllianceBernstein Global High Income Fund during the 2nd quarter valued at approximately $449,000. Finally, Bank of America Corp DE purchased a new stake in AllianceBernstein Global High Income Fund during the 2nd quarter worth approximately $6,094,000.

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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