AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF – Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 45,243 shares, a drop of 42.6% from the July 30th total of 78,797 shares. Based on an average daily trading volume, of 300,651 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.
Insider Activity
In related news, Director Emilie D. Wrapp bought 3,432 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The stock was bought at an average cost of $10.19 per share, for a total transaction of $34,972.08. Following the transaction, the director owned 5,825 shares of the company’s stock, valued at $59,356.75. This represents a 143.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On AllianceBernstein Global High Income Fund
Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of AllianceBernstein Global High Income Fund by 0.9% in the 1st quarter. Royal Bank of Canada now owns 1,251,424 shares of the closed-end fund’s stock valued at $12,727,000 after buying an additional 11,182 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in AllianceBernstein Global High Income Fund by 6,487.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,201,054 shares of the closed-end fund’s stock worth $12,839,000 after acquiring an additional 1,182,821 shares in the last quarter. Invesco Ltd. lifted its holdings in AllianceBernstein Global High Income Fund by 18.8% during the fourth quarter. Invesco Ltd. now owns 1,031,213 shares of the closed-end fund’s stock worth $11,024,000 after acquiring an additional 163,009 shares in the last quarter. Bank of America Corp DE grew its stake in AllianceBernstein Global High Income Fund by 5.8% in the second quarter. Bank of America Corp DE now owns 899,161 shares of the closed-end fund’s stock valued at $9,918,000 after acquiring an additional 49,624 shares during the period. Finally, Raymond James Financial Inc. grew its stake in AllianceBernstein Global High Income Fund by 21.6% in the third quarter. Raymond James Financial Inc. now owns 559,050 shares of the closed-end fund’s stock valued at $6,267,000 after acquiring an additional 99,303 shares during the period.
AllianceBernstein Global High Income Fund Stock Performance
AllianceBernstein Global High Income Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd will be paid a $0.0655 dividend. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, September 3rd.
AllianceBernstein Global High Income Fund Company Profile
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.
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