Western Asset High Income Fund II (NYSE:HIX) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Western Asset High Income Fund II Inc. (NYSE:HIX)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 trading hands.

Western Asset High Income Fund II Price Performance

The business’s 50-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 company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.049 per share. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Western Asset High Income Fund II

A number of institutional investors have recently bought and sold shares of HIX. Ashton Thomas Securities LLC increased its position in Western Asset High Income Fund II by 45.5% in the 1st quarter. Ashton Thomas Securities LLC now owns 16,000 shares of the closed-end fund’s stock worth $64,000 after purchasing an additional 5,000 shares during the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of Western Asset High Income Fund II in the 1st quarter valued at approximately $209,000. World Investment Advisors acquired a new position in Western Asset High Income Fund II in the fourth quarter worth approximately $418,000. NWF Advisory Services Inc. raised its position in Western Asset High Income Fund II by 11.0% during the fourth 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 in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Western Asset High Income Fund II in the fourth quarter valued at approximately $196,000.

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.