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

Shares of Western Asset High Income Fund II Inc. (NYSE:HIX) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.95 and traded as high as $3.99. Western Asset High Income Fund II shares last traded at $3.9650, with a volume of 464,980 shares changing hands.

Western Asset High Income Fund II Stock Performance

The firm’s 50 day simple moving average is $3.95 and its 200-day simple moving average is $4.04.

Western Asset High Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.049 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 14.8%.

Institutional Trading of Western Asset High Income Fund II

Several large investors have recently added to or reduced their stakes in HIX. Commonwealth Equity Services LLC raised its position in shares of Western Asset High Income Fund II by 10.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,986 shares of the closed-end fund’s stock valued at $116,000 after purchasing an additional 2,639 shares in the last quarter. AlphaCore Capital LLC grew its position in shares of Western Asset High Income Fund II by 4.7% during the fourth quarter. AlphaCore Capital LLC now owns 60,686 shares of the closed-end fund’s stock worth $252,000 after buying an additional 2,718 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Western Asset High Income Fund II by 4.9% during the second quarter. Cetera Investment Advisers now owns 67,237 shares of the closed-end fund’s stock worth $288,000 after buying an additional 3,112 shares in the last quarter. Integrity Advisory Solutions LLC increased its stake in shares of Western Asset High Income Fund II by 19.7% in the fourth quarter. Integrity Advisory Solutions LLC now owns 20,850 shares of the closed-end fund’s stock worth $87,000 after buying an additional 3,438 shares during the last quarter. Finally, Sage Capital Advisors llc increased its stake in shares of Western Asset High Income Fund II by 5.5% in the fourth quarter. Sage Capital Advisors llc now owns 69,918 shares of the closed-end fund’s stock worth $291,000 after buying an additional 3,675 shares during 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.