Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 318.6% in August

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 20,521 shares, an increase of 318.6% from the August 15th total of 4,902 shares. Based on an average daily trading volume, of 32,895 shares, the days-to-cover ratio is presently 0.6 days.

Western Asset Intermediate Muni Fund Trading Up 0.1%

NYSE SBI traded up $0.01 on Friday, hitting $7.43. 20,724 shares of the stock traded hands, compared to its average volume of 43,226. The stock has a 50-day moving average of $7.67 and a 200 day moving average of $7.75. Western Asset Intermediate Muni Fund has a twelve month low of $7.42 and a twelve month 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, November 30th. Investors of record on Friday, November 20th will be given a $0.042 dividend. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors have recently modified their holdings of the stock. IHT Wealth Management LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 9.7% during the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after buying an additional 2,103 shares during the last quarter. Royal Bank of Canada boosted its position in Western Asset Intermediate Muni Fund by 3.6% during the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock worth $482,000 after purchasing an additional 2,165 shares during the period. 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 valued at $152,000 after purchasing an additional 2,200 shares during the period. Northwest Financial Advisors increased its holdings in Western Asset Intermediate Muni Fund by 5.9% during the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after acquiring an additional 2,591 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Western Asset Intermediate Muni Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock valued at $1,363,000 after acquiring an additional 2,643 shares in the last quarter.

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.