AllianceBernstein Global High Income Fund (NYSE:AWF) Hits New 52-Week Low – Should You Sell?

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

AllianceBernstein Global High Income Fund Stock Down 1.2%

The business has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $10.12.

AllianceBernstein Global High Income Fund Announces Dividend

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

Insiders Place Their Bets

In related news, Director Emilie Wrapp acquired 3,432 shares of the 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 completion of the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AWF. Royal Bank of Canada raised its stake in shares of AllianceBernstein Global High Income Fund by 0.9% in the first quarter. Royal Bank of Canada now owns 1,251,424 shares of the closed-end fund’s stock worth $12,727,000 after purchasing an additional 11,182 shares during the last quarter. Bank of America Corp DE bought a new position in shares of AllianceBernstein Global High Income Fund in the 2nd quarter worth approximately $6,094,000. Landscape Capital Management L.L.C. purchased a new position in shares of AllianceBernstein Global High Income Fund in the second quarter worth approximately $2,400,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of AllianceBernstein Global High Income Fund by 4.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 210,755 shares of the closed-end fund’s stock worth $2,171,000 after buying an additional 9,074 shares during the last quarter. Finally, Independent Financial Group LLC purchased a new position in shares of AllianceBernstein Global High Income Fund in the first quarter worth approximately $1,943,000.

About AllianceBernstein Global High Income Fund

(Get Free Report)

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.

Further Reading

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