HIX: Some Good Characteristics, But Distribution Is Destructive [Seeking Alpha]
Western Asset High Income Fund II Inc. (HIX)
US:NYSE Investor Relations:
leggmason.com/en-us/products/closed-end-funds/western-asset-high-income-fund-ii-inc.html
Company Research
Source: Seeking Alpha
1 Comment Power Hedge Investing Group Leader Follow Summary 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. The fund appears to have been selling off domestic bonds in favor of foreign ones, despite IG bonds outperforming over the past three months. The fund's current valuation at a 3.94% discount to NAV is typical, but potential investors should be cautious of a possible distribution cut. Looking for a helping hand in the market? Members of Energy Profits in Dividends get exclusive ideas and guidance to navigate any climate. Learn More » Richard Drur
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Sec Filings
- 11/21/24 - Form 3
- 11/21/24 - Form 3
- 11/21/24 - Form 424B3
- HIX's page on the SEC website