Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.80 and traded as low as $7.78. Western Asset Intermediate Muni Fund shares last traded at $7.83, with a volume of 57,966 shares.

Western Asset Intermediate Muni Fund Trading Up 0.3%

The company has a fifty day moving average price of $7.80 and a 200 day moving average price of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.042 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a yield of 6.4%.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC bought a new stake in Western Asset Intermediate Muni Fund during the second quarter worth $32,000. Private Advisor Group LLC bought a new position in Western Asset Intermediate Muni Fund in the 3rd quarter valued at $91,000. Captrust Financial Advisors purchased a new stake in shares of Western Asset Intermediate Muni Fund during the 2nd quarter valued at $96,000. Closed End Fund Advisors Inc. purchased a new stake in shares of Western Asset Intermediate Muni Fund during the 4th quarter valued at $134,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of 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 period.

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.