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

Western Asset High Income Fund II Inc. (NYSE:HIX) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.17 and traded as high as $4.21. Western Asset High Income Fund II shares last traded at $4.2050, with a volume of 258,974 shares changing hands.

Western Asset High Income Fund II Price Performance

The business has a 50-day simple moving average of $4.17 and a 200 day simple moving average of $4.25.

Western Asset High Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a $0.049 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a yield of 14.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HIX. Envestnet Asset Management Inc. grew its holdings in Western Asset High Income Fund II by 31.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,080 shares of the closed-end fund’s stock worth $528,000 after acquiring an additional 29,433 shares during the period. Penserra Capital Management LLC boosted its position in shares of Western Asset High Income Fund II by 3.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,469,498 shares of the closed-end fund’s stock valued at $10,594,000 after purchasing an additional 72,993 shares in the last quarter. Total Wealth Planning & Management Inc. increased its holdings in Western Asset High Income Fund II by 5.9% in the second quarter. Total Wealth Planning & Management Inc. now owns 69,215 shares of the closed-end fund’s stock worth $297,000 after purchasing an additional 3,870 shares in the last quarter. Rareview Capital LLC lifted its stake in Western Asset High Income Fund II by 8.5% in the second quarter. Rareview Capital LLC now owns 381,889 shares of the closed-end fund’s stock valued at $1,638,000 after buying an additional 29,992 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Western Asset High Income Fund II in the second quarter valued at approximately $71,000.

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.