Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.75 and traded as high as $7.82. Western Asset Intermediate Muni Fund shares last traded at $7.74, with a volume of 37,871 shares changing hands.

Western Asset Intermediate Muni Fund Stock Down 0.4%

The business’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.79.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.042 dividend. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SBI. Invesco Ltd. raised its position in Western Asset Intermediate Muni Fund by 55.5% in the 2nd quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock worth $1,542,000 after purchasing an additional 73,181 shares during the last quarter. Wells Fargo & Company MN raised its position in Western Asset Intermediate Muni Fund by 19.5% in the 4th quarter. Wells Fargo & Company MN now owns 399,208 shares of the company’s stock worth $3,066,000 after purchasing an additional 65,251 shares during the last quarter. Northwest Financial Advisors lifted its holdings in Western Asset Intermediate Muni Fund by 225.0% in the fourth quarter. Northwest Financial Advisors now owns 43,870 shares of the company’s stock valued at $337,000 after buying an additional 30,370 shares during the period. Wolverine Asset Management LLC acquired a new position in Western Asset Intermediate Muni Fund in the fourth quarter valued at approximately $196,000. Finally, LPL Financial LLC lifted its holdings in Western Asset Intermediate Muni Fund by 11.9% in the fourth quarter. LPL Financial LLC now owns 190,855 shares of the company’s stock valued at $1,466,000 after buying an additional 20,265 shares during the period.

About Western Asset Intermediate Muni Fund

Western Asset Intermediate Muni Fund (NYSE: SBI) is a closed-end management investment company whose primary objective is to seek a high level of current income exempt from federal income taxes. The fund is sponsored and managed by Western Asset Management Company, a global fixed-income investment firm with a focus on municipal and other debt securities. SBI pursues its goal by investing predominantly in intermediate-duration municipal bonds, aiming to balance yield potential with interest rate risk management.

The portfolio typically comprises a diversified mix of investment-grade and, to a lesser extent, higher-yielding municipal securities issued by state and local governments and their agencies.