Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Update

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 40,119 shares, an increase of 160.0% from the June 30th total of 15,429 shares. Based on an average daily trading volume, of 66,506 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in shares of Western Asset Intermediate Muni Fund during the second quarter valued at $32,000. Private Advisor Group LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund during the third quarter worth $91,000. Captrust Financial Advisors purchased a new stake in Western Asset Intermediate Muni Fund during the second quarter valued at about $96,000. Closed End Fund Advisors Inc. acquired a new position in Western Asset Intermediate Muni Fund in the 4th quarter worth approximately $134,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Western Asset Intermediate Muni Fund by 12.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after buying an additional 2,200 shares in the last quarter.

Western Asset Intermediate Muni Fund Price Performance

Shares of SBI traded down $0.06 during mid-day trading on Tuesday, hitting $7.64. The stock had a trading volume of 62,637 shares, compared to its average volume of 43,110. Western Asset Intermediate Muni Fund has a fifty-two week low of $7.51 and a fifty-two week high of $8.01. The company’s fifty day simple moving average is $7.80 and its two-hundred day simple moving average is $7.81.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued 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 6.6%.

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.