Western Asset Global High Income Fund (NYSE:EHI) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Western Asset Global High Income Fund Inc. (NYSE:EHI) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $5.55 and traded as low as $5.29. Western Asset Global High Income Fund shares last traded at $5.3050, with a volume of 106,404 shares changing hands.

Western Asset Global High Income Fund Trading Down 1.2%

The stock’s fifty day simple moving average is $5.54 and its 200 day simple moving average is $5.83.

Western Asset Global High Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 16.0%.

Institutional Investors Weigh In On Western Asset Global High Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Total Wealth Planning & Management Inc. lifted its position in Western Asset Global High Income Fund by 13.0% during the third quarter. Total Wealth Planning & Management Inc. now owns 65,973 shares of the company’s stock valued at $360,000 after purchasing an additional 7,576 shares in the last quarter. Readystate Asset Management LP bought a new stake in Western Asset Global High Income Fund during the second quarter valued at about $315,000. World Investment Advisors purchased a new stake in Western Asset Global High Income Fund in the fourth quarter worth about $187,000. Bank of America Corp DE purchased a new stake in Western Asset Global High Income Fund in the second quarter worth about $77,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Western Asset Global High Income Fund in the first quarter worth about $72,000.

Western Asset Global High Income Fund Company Profile

Western Asset Global High Income Fund Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol EHI. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in fixed-income securities issued by companies and governments around the world.

The fund’s portfolio may include below-investment-grade corporate bonds, emerging-market debt, sovereign and government-related securities, bank loans, and other income-producing instruments.