Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 304.9% in May

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a significant increase in short interest in May. As of May 15th, there was short interest totaling 59,193 shares, an increase of 304.9% from the April 30th total of 14,619 shares. Based on an average daily volume of 56,519 shares, the days-to-cover ratio is currently 1.0 days.

Western Asset Intermediate Muni Fund Stock Up 0.2%

Western Asset Intermediate Muni Fund stock opened at $7.82 on Friday. The firm’s fifty day moving average is $7.74 and its 200 day moving average is $7.80. Western Asset Intermediate Muni Fund has a 52-week low of $7.40 and a 52-week high of $8.01.

Western Asset Intermediate Muni Fund Announces Dividend

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 of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 6.4%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently made changes to their positions in SBI. Wells Fargo & Company MN lifted its stake in Western Asset Intermediate Muni Fund by 19.5% in the fourth 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. Invesco Ltd. lifted its stake in Western Asset Intermediate Muni Fund by 13.0% in the fourth quarter. Invesco Ltd. now owns 301,003 shares of the company’s stock worth $2,312,000 after purchasing an additional 34,631 shares during the last quarter. LPL Financial LLC lifted its stake 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 worth $1,466,000 after purchasing an additional 20,265 shares during the last quarter. Cetera Investment Advisers lifted its stake in Western Asset Intermediate Muni Fund by 1.5% in the fourth quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after purchasing an additional 2,643 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Western Asset Intermediate Muni Fund by 42.3% in the fourth quarter. Osaic Holdings Inc. now owns 35,565 shares of the company’s stock worth $273,000 after purchasing an additional 10,576 shares during the last quarter.

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.