Western Asset High Income Fund II (NYSE:HIX) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Western Asset High Income Fund II Inc. (NYSE:HIX) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.17 and traded as high as $4.22. Western Asset High Income Fund II shares last traded at $4.2050, with a volume of 293,819 shares traded.

Western Asset High Income Fund II Price Performance

The firm’s 50 day moving average price is $4.17 and its 200-day moving average price is $4.24.

Western Asset High Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.049 per share. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 14.0%.

Institutional Investors Weigh In On Western Asset High Income Fund II

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in Western Asset High Income Fund II by 134.1% in the 1st quarter. Comerica Bank now owns 9,369 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 5,367 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Western Asset High Income Fund II during the 3rd quarter worth approximately $45,000. Ashton Thomas Securities LLC bought a new position in shares of Western Asset High Income Fund II during the fourth quarter valued at $46,000. Geneos Wealth Management Inc. increased its position in shares of Western Asset High Income Fund II by 288.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 11,531 shares of the closed-end fund’s stock worth $49,000 after purchasing an additional 8,562 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in Western Asset High Income Fund II in the third quarter valued at about $56,000.

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.