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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 37,778 shares, a drop of 36.2% from the May 14th total of 59,193 shares. Based on an average daily volume of 30,017 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rivernorth Capital Management LLC increased its holdings in Western Asset Intermediate Muni Fund by 0.6% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock worth $9,123,000 after purchasing an additional 7,396 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Western Asset Intermediate Muni Fund by 19.5% during the 4th quarter. Wells Fargo & Company MN now owns 399,208 shares of the company’s stock valued at $3,066,000 after buying an additional 65,251 shares during the last quarter. Invesco Ltd. grew its position in shares of Western Asset Intermediate Muni Fund by 13.0% during the fourth quarter. Invesco Ltd. now owns 301,003 shares of the company’s stock worth $2,312,000 after buying an additional 34,631 shares in the last quarter. LPL Financial LLC increased its stake in shares of Western Asset Intermediate Muni Fund by 11.9% in the fourth quarter. LPL Financial LLC now owns 190,855 shares of the company’s stock worth $1,466,000 after buying an additional 20,265 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Western Asset Intermediate Muni Fund by 6.6% in the second quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock worth $1,428,000 after buying an additional 11,720 shares during the last quarter.

Western Asset Intermediate Muni Fund Stock Performance

SBI stock traded up $0.03 during trading on Wednesday, reaching $7.84. The stock had a trading volume of 48,481 shares, compared to its average volume of 38,634. Western Asset Intermediate Muni Fund has a 1-year low of $7.40 and a 1-year high of $8.01. The firm has a fifty day moving average price of $7.77 and a 200 day moving average price of $7.80.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, August 24th.

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.