Western Asset High Income Fund II (NYSE:HIX) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.21 and traded as low as $3.93. Western Asset High Income Fund II shares last traded at $3.9350, with a volume of 164,439 shares changing hands.

Western Asset High Income Fund II Stock Down 1.6%

The business’s 50 day simple moving average is $4.16 and its 200-day simple moving average is $4.21.

Western Asset High Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be paid a $0.049 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a yield of 14.9%.

Hedge Funds Weigh In On Western Asset High Income Fund II

Several institutional investors have recently modified their holdings of the stock. Arax Advisory Partners acquired a new stake in shares of Western Asset High Income Fund II in the 4th quarter valued at approximately $37,000. Comerica Bank grew its holdings in Western Asset High Income Fund II by 134.1% during the first quarter. Comerica Bank now owns 9,369 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 5,367 shares during the period. Williams Jones Wealth Management LLC. bought a new stake in Western Asset High Income Fund II in the fourth quarter valued at approximately $42,000. One Capital Management LLC bought a new stake in Western Asset High Income Fund II in the fourth quarter valued at approximately $43,000. Finally, Merit Financial Group LLC acquired a new stake in Western Asset High Income Fund II in the third quarter worth $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.