Key Details
Price
$4.45Last Dividend
$0.05Annual ROE
7.24%Beta
0.23Events Calendar
Next earnings date:
N/ARecent quarterly earnings:
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N/ANext ex-dividend date:
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Nov 21, 2024Next split:
N/ARecent split:
Jan 26, 2024Analyst ratings
Recent major analysts updates
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Western Asset High Income Fund II offers a high 13.42% yield but has a concerning performance trend, with a 50.11% share price decline over ten years. The HIX closed-end fund's high leverage (32.28%) and unsustainable distribution strategy pose significant risks, despite its attractive yield compared to peers. The fund's global bond focus, including emerging markets, is appealing as it could offer a degree of protection against the long term U.S. dollar decline.
It's finally happening: Management fees on our favorite 8%+ paying assets—closed-end funds (CEFs)—are falling. And some are sending their already soaring dividends even higher, too.
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The Western Asset High Income Fund II is undergoing a rights offering, which has pushed the fund to a deep discount.
Western Asset High Income Fund II has utilized rights offerings in the past to raise new capital. The 2022 rights offering raised approximately $31 million, which was deployed into purchasing new assets. HIX has announced yet another rights offering that can offer existing shareholders a discounted price to the current market value for the CEF's shares.
Western Asset High Income Fund II offers exposure to a globally diversified portfolio focused on high-yield fixed income. The HIX closed-end fund currently trades at a small discount, and that is part of what makes it unappealing at this time even despite trading closer to its longer-term average level. There are alternative funds within the Western Asset family, such as HYI and WDI, that may be more attractive options due to their better valuations.
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