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

Western Asset High Income Fund II Inc. (NYSE:HIX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $3.96 and traded as low as $3.93. Western Asset High Income Fund II shares last traded at $3.9850, with a volume of 587,940 shares.

Western Asset High Income Fund II Trading Down 0.1%

The stock has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $4.05.

Western Asset High Income Fund II Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners acquired a new stake in shares of Western Asset High Income Fund II during the fourth quarter worth $37,000. Comerica Bank raised its stake in Western Asset High Income Fund II by 134.1% in the 1st 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. acquired a new stake in shares of Western Asset High Income Fund II during the fourth quarter worth about $42,000. One Capital Management LLC acquired a new stake in shares of Western Asset High Income Fund II during the fourth quarter worth about $43,000. Finally, Merit Financial Group LLC purchased a new stake in Western Asset High Income Fund II in the third quarter valued at approximately $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.