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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 14,619 shares, a drop of 41.5% from the April 15th total of 24,996 shares. Based on an average trading volume of 43,597 shares, the days-to-cover ratio is presently 0.3 days.

Western Asset Intermediate Muni Fund Price Performance

Western Asset Intermediate Muni Fund stock traded down $0.02 during trading on Monday, reaching $7.73. The company had a trading volume of 15,132 shares, compared to its average volume of 40,182. The firm’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $7.80. Western Asset Intermediate Muni Fund has a 1-year low of $7.40 and a 1-year high of $8.01.

Western Asset Intermediate Muni Fund Dividend Announcement

The business 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 $0.042 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors have recently added to or reduced their stakes in SBI. Private Advisor Group LLC acquired a new stake in Western Asset Intermediate Muni Fund in the 3rd quarter valued at $91,000. Captrust Financial Advisors acquired a new stake in Western Asset Intermediate Muni Fund during the 2nd quarter worth $96,000. Closed End Fund Advisors Inc. acquired a new stake in Western Asset Intermediate Muni Fund during the 4th quarter worth $134,000. Janney Montgomery Scott LLC boosted 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 worth $152,000 after purchasing an additional 2,200 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its stake in Western Asset Intermediate Muni Fund by 25.4% during the 2nd quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock worth $153,000 after purchasing an additional 4,113 shares during the last quarter.

About Western Asset Intermediate Muni Fund

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.