NWF Advisory Services Inc. has significantly increased its holdings in the Western Asset High Income Fund II Inc. (NYSE: HIX) by an impressive 69.6% during the third quarter of 2023. According to the firm’s recent disclosure with the Securities and Exchange Commission, NWF now owns 417,800 shares of the closed-end fund after acquiring an additional 171,500 shares in this period. As of the latest filing, these holdings are valued at approximately $1,817,000.
Other large investors have also adjusted their positions in the fund. For instance, Steinberganna Wealth Management entered the market with a new stake valued at around $87,000 during the same quarter. Shaker Financial Services LLC increased its stake by 21.2%, now holding 550,959 shares worth $2,424,000 after purchasing an additional 96,521 shares. Similarly, Merit Financial Group LLC acquired a new position valued at $45,000, while Calamos Advisors LLC lifted its holdings by 21.7%, owning 89,913 shares worth $391,000 after adding 16,055 shares.
Additionally, Apollon Wealth Management LLC made a notable increase of 151.8% in its position, now owning 39,532 shares valued at $172,000 after buying an extra 23,833 shares in the last quarter.
Recent Performance of Western Asset High Income Fund II
As of October 10, 2023, shares of Western Asset High Income Fund II opened at $4.20. The fund has experienced a fluctuation over the past year, with a low of $3.65 and a high of $4.42. The 50-day moving average stands at $4.17, while the 200-day moving average is $4.25.
Western Asset High Income Fund II aims to provide high current income primarily by investing in below-investment-grade debt instruments. The fund maintains a diversified portfolio that includes high-yield corporate bonds, senior loans, mortgage- and asset-backed securities, and emerging-market debt. It also employs leverage through borrowings and the issuance of preferred shares to enhance its income potential.
Investors are encouraged to monitor these developments closely, as shifts in large investment firms’ holdings can indicate broader market trends and investor confidence in specific sectors.
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