Western Asset High Income Fund II (NYSE:HIX) Stock Passes Below 200-Day Moving Average – Time to Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.10 and traded as low as $3.92. Western Asset High Income Fund II shares last traded at $3.9590, with a volume of 417,527 shares changing hands.

Western Asset High Income Fund II Price Performance

The company has a fifty day moving average price of $3.96 and a two-hundred day moving average price of $4.10.

Western Asset High Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a $0.049 dividend. This represents a c) annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Western Asset High Income Fund II

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC raised its stake in Western Asset High Income Fund II by 45.5% during the 1st quarter. Ashton Thomas Securities LLC now owns 16,000 shares of the closed-end fund’s stock valued at $64,000 after acquiring an additional 5,000 shares during the last quarter. Absolute Investment Advisers LLC purchased a new stake in Western Asset High Income Fund II during the 1st quarter valued at approximately $209,000. World Investment Advisors purchased a new stake in Western Asset High Income Fund II during the 4th quarter valued at approximately $418,000. NWF Advisory Services Inc. raised its stake in Western Asset High Income Fund II by 11.0% during the 4th quarter. NWF Advisory Services Inc. now owns 463,940 shares of the closed-end fund’s stock valued at $1,930,000 after acquiring an additional 46,140 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Western Asset High Income Fund II during the 4th quarter valued at approximately $196,000.

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.