Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Up 1% – Should You Buy?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price was up 1% during mid-day trading on Friday. The stock traded as high as $7.31 and last traded at $7.30. Approximately 55,660 shares were traded during trading, an increase of 12% from the average session volume of 49,878 shares. The stock had previously closed at $7.23.

Western Asset Intermediate Muni Fund Price Performance

The firm has a 50-day simple moving average of $7.24 and a two-hundred day simple moving average of $7.65.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently modified their holdings of SBI. Allworth Financial LP acquired a new position in Western Asset Intermediate Muni Fund in the 3rd quarter worth $56,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund in the 3rd quarter valued at about $154,000. Commonwealth Equity Services LLC raised its stake in shares of Western Asset Intermediate Muni Fund by 3.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 198,914 shares of the company’s stock valued at $1,390,000 after purchasing an additional 6,852 shares during the period. Rivernorth Capital Management LLC lifted its holdings in shares of Western Asset Intermediate Muni Fund by 3.7% in the second quarter. Rivernorth Capital Management LLC now owns 1,231,561 shares of the company’s stock valued at $9,692,000 after purchasing an additional 43,628 shares in the last quarter. Finally, 49 Wealth Management LLC bought a new stake in shares of Western Asset Intermediate Muni Fund in the second quarter valued at about $84,000.

About Western Asset Intermediate Muni Fund

Western Asset Intermediate Muni Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SBI. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal bonds and other municipal securities.

The fund focuses on intermediate-term municipal obligations issued by states, cities, counties, and other governmental entities, as well as related public-purpose organizations. Its portfolio may include securities financing projects and services such as education, transportation, utilities, health care, and other public infrastructure.