Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.78 and traded as high as $7.91. Western Asset Intermediate Muni Fund shares last traded at $7.8550, with a volume of 34,679 shares changing hands.

Western Asset Intermediate Muni Fund Stock Performance

The business’s 50 day moving average price is $7.78 and its 200-day moving average price is $7.80.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.042 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.4%.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC grew its stake in shares of Western Asset Intermediate Muni Fund by 9.7% during the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after acquiring an additional 2,103 shares in the last quarter. Royal Bank of Canada boosted its holdings in Western Asset Intermediate Muni Fund by 3.6% in the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock valued at $482,000 after purchasing an additional 2,165 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Western Asset Intermediate Muni Fund by 12.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after purchasing an additional 2,200 shares in the last quarter. Northwest Financial Advisors grew its stake in Western Asset Intermediate Muni Fund by 5.9% during the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock valued at $357,000 after purchasing an additional 2,591 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in Western Asset Intermediate Muni Fund by 1.5% during the 4th 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.

Western Asset Intermediate Muni Fund Company Profile

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.