Western Asset High Income Fund II (NYSE:HIX) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.05 and traded as low as $3.94. Western Asset High Income Fund II shares last traded at $3.9750, with a volume of 334,850 shares traded.

Western Asset High Income Fund II Trading Down 0.1%

The business’s fifty day moving average price is $3.96 and its 200 day moving average price is $4.05.

Western Asset High Income Fund II Dividend Announcement

The business 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 $0.049 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 14.9%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Arax Advisory Partners acquired a new stake in Western Asset High Income Fund II during the 4th quarter valued at $37,000. Comerica Bank boosted its stake in 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 worth $39,000 after purchasing an additional 5,367 shares in the last quarter. Williams Jones Wealth Management LLC. bought a new stake in shares of Western Asset High Income Fund II during the fourth quarter worth $42,000. One Capital Management LLC acquired a new stake in shares of Western Asset High Income Fund II in the fourth quarter valued at $43,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Western Asset High Income Fund II in the third 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.