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

Western Asset High Income Fund II Inc. (NYSE:HIX) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.96 and traded as low as $3.93. Western Asset High Income Fund II shares last traded at $3.9850, with a volume of 587,940 shares traded.

Western Asset High Income Fund II Trading Up 1.1%

The company has a 50-day moving average price of $3.96 and a 200-day moving average price of $4.05.

Western Asset High Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.049 dividend. This represents a c) annualized dividend and a yield of 14.8%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Investors Weigh In On Western Asset High Income Fund II

Hedge funds have recently bought and sold shares of the company. Comerica Bank grew its holdings in shares of 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 buying an additional 5,367 shares during the period. Jane Street Group LLC bought a new position in Western Asset High Income Fund II during the first quarter worth about $64,000. Cetera Investment Advisers lifted its holdings in Western Asset High Income Fund II by 4.9% during the second quarter. Cetera Investment Advisers now owns 67,237 shares of the closed-end fund’s stock worth $288,000 after acquiring an additional 3,112 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Western Asset High Income Fund II by 288.4% in the second quarter. Geneos Wealth Management Inc. now owns 11,531 shares of the closed-end fund’s stock valued at $49,000 after acquiring an additional 8,562 shares during the period. Finally, Merit Financial Group LLC acquired a new position in Western Asset High Income Fund II in the third quarter valued at about $45,000.

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.