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

Western Asset High Income Fund II Inc. (NYSE:HIX)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.13 and traded as low as $3.98. Western Asset High Income Fund II shares last traded at $4.0050, with a volume of 307,370 shares traded.

Western Asset High Income Fund II Stock Performance

The stock’s 50-day moving average is $4.00 and its two-hundred day moving average is $4.13.

Western Asset High Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a dividend of $0.049 per share. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 14.7%.

Hedge Funds Weigh In On Western Asset High Income Fund II

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arax Advisory Partners bought a new position in shares of Western Asset High Income Fund II during the fourth quarter worth $37,000. Comerica Bank boosted its position in shares of 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 worth $39,000 after acquiring an additional 5,367 shares during the last quarter. Williams Jones Wealth Management LLC. bought a new position in shares of Western Asset High Income Fund II during the fourth quarter worth $42,000. One Capital Management LLC bought a new position in shares of Western Asset High Income Fund II during the fourth quarter worth $43,000. Finally, Merit Financial Group LLC bought a new position in shares of Western Asset High Income Fund II during the third quarter worth $45,000.

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.