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

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF)’s stock price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $9.52 and last traded at $9.5350, with a volume of 142618 shares trading hands. The stock had previously closed at $9.63.

AllianceBernstein Global High Income Fund Stock Performance

The firm has a 50-day moving average price of $10.00 and a 200-day moving average price of $10.14.

AllianceBernstein Global High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 1st will be given a dividend of $0.0655 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.79 annualized dividend and a yield of 8.2%.

Insider Transactions at AllianceBernstein Global High Income Fund

In related news, Director Emilie Wrapp acquired 3,432 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 5,825 shares of the company’s stock, valued at approximately $59,356.75. This represents a 143.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in AllianceBernstein Global High Income Fund during the second quarter valued at $6,094,000. Landscape Capital Management L.L.C. purchased a new stake in AllianceBernstein Global High Income Fund in the second quarter worth $2,400,000. Independent Financial Group LLC bought a new stake in shares of AllianceBernstein Global High Income Fund in the first quarter valued at $1,943,000. Absolute Investment Advisers LLC purchased a new position in shares of AllianceBernstein Global High Income Fund during the 1st quarter valued at $1,460,000. Finally, Rivernorth Capital Management LLC bought a new position in shares of AllianceBernstein Global High Income Fund during the 1st quarter worth $885,000.

AllianceBernstein Global High Income Fund Company Profile

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.