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

Western Asset High Income Fund II Inc. (NYSE:HIX) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.97 and traded as low as $3.92. Western Asset High Income Fund II shares last traded at $3.93, with a volume of 220,389 shares changing hands.

Western Asset High Income Fund II Stock Down 1.5%

The company has a fifty day moving average of $3.97 and a two-hundred day moving average of $4.06.

Western Asset High Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a $0.049 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 15.0%.

Institutional Trading of Western Asset High Income Fund II

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG grew its stake in Western Asset High Income Fund II by 7.6% in the 4th quarter. UBS Group AG now owns 3,906,673 shares of the closed-end fund’s stock valued at $16,252,000 after buying an additional 276,280 shares during the last quarter. Invesco Ltd. lifted its position in Western Asset High Income Fund II by 1.3% during the 3rd quarter. Invesco Ltd. now owns 962,436 shares of the closed-end fund’s stock worth $4,187,000 after acquiring an additional 12,373 shares during the last quarter. GraniteShares Advisors LLC bought a new stake in Western Asset High Income Fund II during the fourth quarter valued at about $2,762,000. Osaic Holdings Inc. boosted its holdings in Western Asset High Income Fund II by 23.2% during the fourth quarter. Osaic Holdings Inc. now owns 573,337 shares of the closed-end fund’s stock valued at $2,385,000 after acquiring an additional 108,088 shares during the period. Finally, Guggenheim Capital LLC grew its position in shares of Western Asset High Income Fund II by 124.7% in the fourth quarter. Guggenheim Capital LLC now owns 544,204 shares of the closed-end fund’s stock valued at $2,264,000 after purchasing an additional 301,968 shares during the last quarter.

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.