Western Asset High Income Fund II Inc. (NYSE:HIX) Sees Significant Increase in Short Interest

Western Asset High Income Fund II Inc. (NYSE:HIX) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 550,301 shares, a growth of 56.1% from the August 15th total of 352,565 shares. Based on an average daily volume of 379,512 shares, the days-to-cover ratio is currently 1.5 days.

Western Asset High Income Fund II Stock Up 0.9%

HIX stock opened at $3.79 on Friday. Western Asset High Income Fund II has a one year low of $3.74 and a one year high of $4.40. The firm’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.95.

Western Asset High Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be given a $0.049 dividend. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 15.5%.

Hedge Funds Weigh In On Western Asset High Income Fund II

A number of hedge funds have recently modified their holdings of HIX. Pin Oak Investment Advisors Inc. purchased a new position in Western Asset High Income Fund II during the second quarter worth about $848,000. Kelleher Financial Advisors purchased a new stake in shares of Western Asset High Income Fund II in the 2nd quarter valued at approximately $127,000. Ashton Thomas Securities LLC raised its stake in shares of 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 valued at $64,000 after acquiring an additional 5,000 shares during the period. Absolute Investment Advisers LLC acquired a new position in shares of Western Asset High Income Fund II in the 1st quarter worth approximately $209,000. Finally, World Investment Advisors acquired a new position in shares of Western Asset High Income Fund II in the 4th quarter worth approximately $418,000.

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.