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)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 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 trading hands.

Western Asset High Income Fund II Stock Performance

The company’s 50 day moving average is $4.17 and its 200-day moving average is $4.25.

Western Asset High Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.049 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset High Income Fund II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Western Asset High Income Fund II by 31.4% in the second 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 in the last quarter. Penserra Capital Management LLC raised its position in shares of Western Asset High Income Fund II by 3.0% during the second quarter. Penserra Capital Management LLC now owns 2,469,498 shares of the closed-end fund’s stock worth $10,594,000 after purchasing an additional 72,993 shares during the period. Total Wealth Planning & Management Inc. lifted its holdings in shares of Western Asset High Income Fund II by 5.9% in the 2nd 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 grew its position in Western Asset High Income Fund II by 8.5% in the 2nd quarter. Rareview Capital LLC now owns 381,889 shares of the closed-end fund’s stock valued at $1,638,000 after purchasing an additional 29,992 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in Western Asset High Income Fund II during the 2nd quarter valued at $71,000.

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.