Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.08 and traded as low as $7.73. Western Asset Intermediate Muni Fund shares last traded at $7.77, with a volume of 192,544 shares trading hands.

Western Asset Intermediate Muni Fund Stock Up 0.8 %

The firm’s 50 day moving average is $8.08 and its two-hundred day moving average is $8.03.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a $0.042 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend is Monday, December 23rd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its position in shares of Western Asset Intermediate Muni Fund by 22.8% in the third quarter. HighTower Advisors LLC now owns 12,375 shares of the company’s stock valued at $101,000 after purchasing an additional 2,295 shares during the period. Blue Bell Private Wealth Management LLC grew its holdings in Western Asset Intermediate Muni Fund by 960.9% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 22,204 shares of the company’s stock valued at $175,000 after buying an additional 20,111 shares during the period. Stephens Inc. AR acquired a new position in shares of Western Asset Intermediate Muni Fund during the 3rd quarter valued at about $203,000. Wolverine Asset Management LLC purchased a new position in shares of Western Asset Intermediate Muni Fund during the 2nd quarter worth about $248,000. Finally, Carson Advisory Inc. acquired a new stake in shares of Western Asset Intermediate Muni Fund in the third quarter worth approximately $733,000.

Western Asset Intermediate Muni Fund Company Profile

Western Asset Intermediate Muni Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax.