AllianceBernstein Global High Income Fund (NYSE:AWF) Hits New 12-Month Low – Should You Sell?

AllianceBernstein Global High Income Fund, Inc. (NYSE:AWF)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $9.70 and last traded at $9.7150, with a volume of 280736 shares traded. The stock had previously closed at $9.77.

AllianceBernstein Global High Income Fund Stock Performance

The company’s 50-day moving average price is $10.04 and its 200-day moving average price is $10.16.

AllianceBernstein Global High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 1st will be paid a dividend of $0.0655 per share. This represents a $0.79 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Thursday, October 1st.

Insider Transactions at AllianceBernstein Global High Income Fund

In other AllianceBernstein Global High Income Fund news, Director Emilie Wrapp bought 3,432 shares of AllianceBernstein Global High Income Fund stock in a transaction on Tuesday, July 21st. The shares were bought at an average cost of $10.19 per share, for a total transaction of $34,972.08. Following the acquisition, the director directly owned 5,825 shares in the company, 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 SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AllianceBernstein Global High Income Fund

Several institutional investors have recently modified their holdings of the business. Fifth Third Bancorp acquired a new stake in shares of AllianceBernstein Global High Income Fund in the first quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in AllianceBernstein Global High Income Fund during the 2nd quarter worth $173,000. Procyon Advisors LLC acquired a new position in AllianceBernstein Global High Income Fund during the 1st quarter worth $335,000. Global Retirement Partners LLC purchased a new stake in AllianceBernstein Global High Income Fund during the 2nd quarter worth about $398,000. Finally, HighTower Advisors LLC purchased a new stake in AllianceBernstein Global High Income Fund during the 2nd quarter worth about $414,000.

About AllianceBernstein Global High Income Fund

AllianceBernstein Global High Income Fund, Inc (NYSE: AWF) is a closed-end investment company managed by AllianceBernstein L.P. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of global fixed-income securities.

The fund primarily invests in below-investment-grade, or high-yield, debt issued by corporations and governments. Its portfolio may include bonds and other debt securities from developed and emerging markets, allowing the fund to pursue income opportunities across multiple regions, industries and currencies while maintaining a global investment mandate.

AllianceBernstein L.P., an investment-management firm and subsidiary of Equitable Holdings, provides the fund’s portfolio management and research capabilities.