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

Western Asset High Income Fund II Inc. (NYSE:HIX)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.05 and traded as high as $4.07. Western Asset High Income Fund II shares last traded at $4.0350, with a volume of 222,921 shares.

Western Asset High Income Fund II Trading Down 0.4%

The company’s fifty day moving average is $4.05 and its 200-day moving average is $4.15.

Western Asset High Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a $0.049 dividend. This represents a c) annualized dividend and a dividend yield of 14.6%. The ex-dividend date of this dividend is Thursday, May 21st.

Hedge Funds Weigh In On Western Asset High Income Fund II

Several institutional investors and hedge funds have recently modified their holdings of HIX. Comerica Bank lifted 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 purchased a new stake in Western Asset High Income Fund II in the 1st quarter worth approximately $64,000. Cetera Investment Advisers boosted its position in Western Asset High Income Fund II by 4.9% in the 2nd quarter. Cetera Investment Advisers now owns 67,237 shares of the closed-end fund’s stock worth $288,000 after purchasing an additional 3,112 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Western Asset High Income Fund II by 288.4% in 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, Osaic Holdings Inc. boosted its position in Western Asset High Income Fund II by 11.6% in the 2nd quarter. Osaic Holdings Inc. now owns 277,266 shares of the closed-end fund’s stock worth $1,189,000 after purchasing an additional 28,873 shares in the last quarter.

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.