Western Asset High Income Fund II (NYSE:HIX) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.18 and traded as high as $4.30. Western Asset High Income Fund II shares last traded at $4.2750, with a volume of 457,654 shares traded.

Western Asset High Income Fund II Price Performance

The stock has a 50 day moving average of $4.18 and a 200 day moving average of $4.24.

Western Asset High Income Fund II Announces Dividend

The company also recently declared 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. This represents a c) dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Investors Weigh In On Western Asset High Income Fund II

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GraniteShares Advisors LLC bought a new position in shares of Western Asset High Income Fund II in the 4th quarter valued at $2,762,000. UBS Group AG boosted its stake in Western Asset High Income Fund II by 13.1% in the third quarter. UBS Group AG now owns 3,630,393 shares of the closed-end fund’s stock valued at $15,792,000 after buying an additional 420,852 shares in the last quarter. Guggenheim Capital LLC grew its position in Western Asset High Income Fund II by 124.7% in the fourth quarter. Guggenheim Capital LLC now owns 544,204 shares of the closed-end fund’s stock valued at $2,264,000 after acquiring an additional 301,968 shares during the last quarter. NWF Advisory Services Inc. grew its position in Western Asset High Income Fund II by 69.6% in the third quarter. NWF Advisory Services Inc. now owns 417,800 shares of the closed-end fund’s stock valued at $1,817,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Western Asset High Income Fund II by 23.2% during the fourth quarter. Osaic Holdings Inc. now owns 573,337 shares of the closed-end fund’s stock worth $2,385,000 after acquiring an additional 108,088 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.