Short Interest in AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF) Decreases By 49.4%

Key Points

• Short interest in AWF fell sharply in June, dropping 49.4% to 30,335 shares as of June 30 from 60,000 shares on June 15. The fund’s days-to-cover ratio is just 0.1 days, indicating very limited bearish positioning.
• AllianceBernstein Global High Income Fund declared a monthly dividend of $0.0655 per share, payable on July 17 to stockholders of record on July 2. That payment implies an annualized dividend yield of 7.7%.
• The stock was little changed in trading, edging down $0.01 to $10.18 while volume came in below its average. Over the past year, shares have traded between $9.85 and $11.43.

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF - Get Free Report) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 30,335 shares, a decrease of 49.4% from the June 15th total of 60,000 shares. Based on an average trading volume of 320,112 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AWF. Fifth Third Bancorp purchased a new position in AllianceBernstein Global High Income Fund during the first quarter valued at approximately $25,000. CWM LLC increased its holdings in shares of AllianceBernstein Global High Income Fund by 64.3% during the 4th quarter. CWM LLC now owns 4,429 shares of the closed-end fund's stock valued at $47,000 after purchasing an additional 1,733 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of AllianceBernstein Global High Income Fund in the 3rd quarter valued at $47,000. Strategic Advocates LLC purchased a new stake in AllianceBernstein Global High Income Fund during the third quarter worth $59,000. Finally, Kestra Private Wealth Services LLC purchased a new position in AllianceBernstein Global High Income Fund in the third quarter valued at $113,000.

AllianceBernstein Global High Income Fund Stock Down 0.1%

AllianceBernstein Global High Income Fund stock traded down $0.01 during midday trading on Wednesday, hitting $10.18. 253,148 shares of the company's stock were exchanged, compared to its average volume of 371,652. AllianceBernstein Global High Income Fund has a 12 month low of $9.85 and a 12 month high of $11.43. The firm has a 50-day moving average of $10.20 and a two-hundred day moving average of $10.36.

AllianceBernstein Global High Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 2nd will be given a $0.0655 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund NYSE: AWF is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital growth. The fund is traded on the New York Stock Exchange and offers investors access to a diversified portfolio of global fixed-income securities designed to capitalize on opportunities in the high-yield credit market.

The fund primarily invests in a broad array of debt instruments, including corporate high-yield bonds, sovereign and quasi-sovereign debt, collateralized loan obligations, convertible securities, and other income-oriented instruments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.