2 Bargain Funds Paying 10%+ Dividends (One Is Clearly Superior) [Forbes]
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: Forbes
Closed-end funds sometimes give us hard choices … like do we want high dividends or really high dividends? Okay, so maybe I'm being a little flippant here—but not much! A reader got me thinking about this recently, with a question about the differences between the 10.9%-yielding Western Asset High Income Opportunities Fund (HIO) and its sister fund, the 14%-yielding Western Asset High Income Fund II (HIX). Both are managed by the same team, are in the same asset class (high-yield bonds) and have virtually the same name. So surely they're pretty much the same, right? Not so fast. In reality, choosing the right CEF is part science and part art, and a deep dive into these two to determine which is, in fact, the best buy is a good way to get a handle on the process. Let's dig in. Start With the Discount to NAV of the CEF I always tell readers that a fund's discount to net asset value (NAV, or the value of its underlying portfolio) is the first thing you want to look at. Typical
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HIX
News
- Weekly CEF Roundup: First Trust MLP CEF Mergers Approved, Saba Buys BSTZ, PDX Goes Monthly [Seeking Alpha]Seeking Alpha
- Western Asset High Income Fund II Inc. Announces Financial Position as of January 31, 2024 [Yahoo! Finance]Yahoo! Finance
- Western Asset High Income Fund II Inc. Announces Financial Position as of January 31, 2024Business Wire
- Western Asset High Income Fund II Inc. (NYSE: HIX) Announces Portfolio Management Team UpdateBusiness Wire
- Western Asset High Income Fund II Inc. Announces Preliminary Results of Transferable Rights OfferingBusiness Wire
HIX
Sec Filings
- 4/4/24 - Form SC
- 3/26/24 - Form NPORT-P
- 3/8/24 - Form 424B3
- HIX's page on the SEC website