AllianceBernstein Global High Income Fund (NYSE:AWF) Sets New 1-Year Low – Here’s Why

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF) shares hit a new 52-week low during trading on Tuesday. The company traded as low as $9.48 and last traded at $9.5050, with a volume of 119,346 shares traded. The stock had previously closed at $9.56.

AllianceBernstein Global High Income Fund Price Performance

The stock has a 50 day moving average of $9.96 and a two-hundred day moving average of $10.13.

AllianceBernstein Global High Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 1st will be given a $0.0655 dividend. This represents a $0.79 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Thursday, October 1st.

Insider Buying and Selling at AllianceBernstein Global High Income Fund

In other AllianceBernstein Global High Income Fund news, Director Emilie Wrapp bought 3,432 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were bought at an average price of $10.19 per share, for a total transaction of $34,972.08. Following the completion of the acquisition, the director owned 5,825 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AWF. HighTower Advisors LLC acquired a new stake in shares of AllianceBernstein Global High Income Fund in the 2nd quarter valued at about $414,000. Concurrent Investment Advisors LLC grew its stake in shares of AllianceBernstein Global High Income Fund by 2.8% during the 2nd 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 shares of 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 worth $471,000 after acquiring an additional 3,874 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in shares of AllianceBernstein Global High Income Fund in the second quarter worth $449,000. Finally, Bank of America Corp DE acquired a new position in AllianceBernstein Global High Income Fund during the second quarter worth $6,094,000.

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.