Western Asset High Income Fund II (NYSE:HIX) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Western Asset High Income Fund II Inc. (NYSE:HIX) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.19 and traded as low as $3.96. Western Asset High Income Fund II shares last traded at $3.99, with a volume of 338,955 shares trading hands.

Western Asset High Income Fund II Trading Down 1.4%

The business’s fifty day moving average is $4.18 and its two-hundred day moving average is $4.22.

Western Asset High Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.049 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 15.0%.

Institutional Trading of Western Asset High Income Fund II

Large investors have recently modified their holdings of the company. Comerica Bank increased its holdings in Western Asset High Income Fund II by 134.1% during the 1st quarter. Comerica Bank now owns 9,369 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 5,367 shares during the period. Jane Street Group LLC purchased a new stake in shares of Western Asset High Income Fund II in the 1st quarter worth $64,000. Envestnet Asset Management Inc. grew its position in shares of Western Asset High Income Fund II by 31.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,080 shares of the closed-end fund’s stock worth $528,000 after buying an additional 29,433 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Western Asset High Income Fund II by 4.9% during the second quarter. Cetera Investment Advisers now owns 67,237 shares of the closed-end fund’s stock valued at $288,000 after buying an additional 3,112 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Western Asset High Income Fund II by 1.7% during the second quarter. Rockefeller Capital Management L.P. now owns 218,352 shares of the closed-end fund’s stock valued at $937,000 after buying an additional 3,653 shares during the period.

About Western Asset High Income Fund II

Western Asset High Income Fund II (NYSE: HIX) is a closed-end management investment company that seeks to provide high current income by investing primarily in below-investment-grade debt instruments. The fund pursues a diversified portfolio of high-yield corporate bonds, senior loans, mortgage- and asset-backed securities, and emerging-market debt, aiming to generate attractive yield while managing credit and interest rate risk.

The fund may employ leverage through borrowings and the issuance of preferred shares to enhance its income potential.