Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Sees Significant Drop in Short Interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 6,609 shares, a decline of 40.1% from the January 29th total of 11,025 shares. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is presently 0.3 days.

Western Asset Intermediate Muni Fund Stock Performance

Shares of SBI traded up $0.03 on Friday, reaching $7.97. 50,500 shares of the company’s stock traded hands, compared to its average volume of 36,751. The stock’s 50 day simple moving average is $7.84 and its two-hundred day simple moving average is $7.82. Western Asset Intermediate Muni Fund has a 52-week low of $7.30 and a 52-week high of $8.01.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.042 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 6.3%.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in SBI. Horizon Kinetics Asset Management LLC purchased a new stake in Western Asset Intermediate Muni Fund during the second quarter worth about $85,000. Private Advisor Group LLC bought a new position in shares of Western Asset Intermediate Muni Fund during the 3rd quarter valued at approximately $91,000. Captrust Financial Advisors bought a new position in shares of Western Asset Intermediate Muni Fund during the 2nd quarter valued at approximately $96,000. Closed End Fund Advisors Inc. purchased a new stake in shares of Western Asset Intermediate Muni Fund during the 4th quarter worth approximately $134,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 12.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock worth $152,000 after purchasing an additional 2,200 shares during the period.

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.