HIX Stock Summary and Trading Ideas (Western Asset High Income II | NYSE:HIX)

The Fund seeks to maximize current income. As a secondary objective, the Fund seeks capital appreciation to the extent consistent with its objective of seeking to maximize current income. Under normal market conditions, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in high-yield debt securities. The Fund may invest up to 35% of its total assets in debt securities of issuers located in emerging market countries. It may also invest up to 30% of its assets in zero coupon securities, pay-in-kind bonds and deferred payment securities, and up to 20% of its assets in equity securities. The Fund may utilize a variety of derivative instruments for investment or risk management purposes, such as options, futures contracts, swap agreements including credit default swaps.

Western Asset High Income II trades on the NYSE stock market under the symbol HIX.

As of April 16, 2024, HIX stock price climbed to $4.29 with 399,497 million shares trading.

HIX has a beta of 0.91, meaning it tends to be less sensitive to market movements. HIX has a correlation of 0.32 to the broad based SPY ETF.

HIX has a market cap of $289.69 million. This is considered a Small Cap stock.

In the last 3 years, HIX stock traded as high as $7.75 and as low as $4.14.

HIX has underperformed the market in the last year with a price return of -1.5% while the SPY ETF gained +23.7%. HIX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -9.4% and -4.0%, respectively, while the SPY returned +6.0% and -3.6%, respectively.

HIX support price is $4.19 and resistance is $4.27 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HIX stock will trade within this expected range on the day.