Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Above 50 Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.75 and traded as high as $7.82. Western Asset Intermediate Muni Fund shares last traded at $7.74, with a volume of 37,871 shares trading hands.

Western Asset Intermediate Muni Fund Price Performance

The company has a 50-day moving average price of $7.75 and a 200-day moving average price of $7.79.

Western Asset Intermediate Muni Fund Announces Dividend

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

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC grew its position in shares of Western Asset Intermediate Muni Fund by 25.4% in the second quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock valued at $153,000 after purchasing an additional 4,113 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Western Asset Intermediate Muni Fund by 12.5% in 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 during the period. Captrust Financial Advisors bought a new stake in shares of Western Asset Intermediate Muni Fund in the second quarter valued at about $96,000. Private Advisor Group LLC bought a new stake in shares of Western Asset Intermediate Muni Fund in the third quarter valued at about $91,000. Finally, Cetera Investment Advisers lifted its stake in shares of Western Asset Intermediate Muni Fund by 1.8% in the first quarter. Cetera Investment Advisers now owns 180,685 shares of the company’s stock valued at $1,388,000 after buying an additional 3,257 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.