Western Asset High Income Fund II Inc. (NYSE:HIX) Sees Large Decline in Short Interest

Western Asset High Income Fund II Inc. (NYSE:HIX) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 79,058 shares, a decrease of 83.4% from the September 15th total of 476,420 shares. Based on an average trading volume of 536,428 shares, the days-to-cover ratio is currently 0.1 days.

Western Asset High Income Fund II Price Performance

Shares of NYSE:HIX opened at $3.50 on Friday. The company’s fifty day moving average is $3.79 and its two-hundred day moving average is $3.90. Western Asset High Income Fund II has a 12-month low of $3.45 and a 12-month high of $4.35.

Western Asset High Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.0490 per share. The ex-dividend date is Friday, November 20th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 16.8%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. NWF Advisory Services Inc. boosted its position in Western Asset High Income Fund II by 11.0% during the 4th quarter. NWF Advisory Services Inc. now owns 463,940 shares of the closed-end fund’s stock worth $1,930,000 after acquiring an additional 46,140 shares during the period. Bank of America Corp DE acquired a new position in shares of Western Asset High Income Fund II in the 2nd quarter valued at about $1,110,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Western Asset High Income Fund II in the 2nd quarter valued at about $848,000. World Investment Advisors purchased a new stake in shares of Western Asset High Income Fund II in the fourth quarter worth approximately $418,000. Finally, Absolute Investment Advisers LLC purchased a new stake in shares of Western Asset High Income Fund II in the first quarter worth approximately $209,000.

Western Asset High Income Fund II Company Profile

Western Asset High Income Fund II Inc (NYSE: HIX) is a closed-end investment fund designed to provide investors with a high level of current income, with capital appreciation as a secondary objective. The fund invests primarily in income-producing fixed-income securities, including below-investment-grade corporate bonds and other high-yield debt instruments.

HIX is managed by Western Asset Management Company, LLC, a global fixed-income investment manager and a subsidiary of Franklin Resources, Inc Western Asset uses credit research, sector analysis and portfolio management to select and manage the fund’s investments across the high-yield bond market.

The fund is structured as a publicly traded closed-end fund, meaning it raises capital through a fixed number of shares that trade on the New York Stock Exchange rather than offering or redeeming shares continuously like an open-end mutual fund.