Western Asset High Income Fund II (NYSE:HIX) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $3.97 and traded as low as $3.92. Western Asset High Income Fund II shares last traded at $3.93, with a volume of 220,389 shares changing hands.

Western Asset High Income Fund II Trading Up 0.6%

The company’s fifty day simple moving average is $3.97 and its 200 day simple moving average is $4.06.

Western Asset High Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.049 per share. This represents a c) dividend on an annualized basis and a dividend yield of 15.0%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arax Advisory Partners purchased a new stake in shares of Western Asset High Income Fund II during the fourth quarter worth $37,000. Comerica Bank grew its position in shares of Western Asset High Income Fund II by 134.1% in the first quarter. Comerica Bank now owns 9,369 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 5,367 shares in the last quarter. Williams Jones Wealth Management LLC. purchased a new position in shares of Western Asset High Income Fund II in the fourth quarter valued at $42,000. One Capital Management LLC bought a new stake in shares of Western Asset High Income Fund II during the 4th quarter valued at $43,000. Finally, Merit Financial Group LLC bought a new stake in shares of Western Asset High Income Fund II during the 3rd quarter valued at $45,000.

Western Asset High Income Fund II Company Profile

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.