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

Western Asset High Income Fund II Inc. (NYSE:HIX)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.19 and traded as low as $3.96. Western Asset High Income Fund II shares last traded at $3.99, with a volume of 338,955 shares changing hands.

Western Asset High Income Fund II Price Performance

The business’s 50-day moving average price is $4.19 and its 200-day moving average price is $4.23.

Western Asset High Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be issued a $0.049 dividend. This represents a c) annualized dividend and a yield of 14.7%. The ex-dividend date of this dividend is Thursday, May 21st.

Institutional Trading of Western Asset High Income Fund II

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG boosted its position in shares of Western Asset High Income Fund II by 7.6% in the 4th quarter. UBS Group AG now owns 3,906,673 shares of the closed-end fund’s stock worth $16,252,000 after purchasing an additional 276,280 shares in the last quarter. Penserra Capital Management LLC increased its position in Western Asset High Income Fund II by 0.3% during the 3rd quarter. Penserra Capital Management LLC now owns 2,476,447 shares of the closed-end fund’s stock valued at $10,772,000 after buying an additional 6,949 shares in the last quarter. Invesco Ltd. raised its stake in Western Asset High Income Fund II by 1.3% in the third quarter. Invesco Ltd. now owns 962,436 shares of the closed-end fund’s stock valued at $4,187,000 after buying an additional 12,373 shares during the last quarter. GraniteShares Advisors LLC purchased a new stake in Western Asset High Income Fund II in the fourth quarter valued at about $2,762,000. Finally, Osaic Holdings Inc. boosted its holdings in Western Asset High Income Fund II by 23.2% in 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.

Western Asset High Income Fund II Company Profile

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.