Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.81 and traded as high as $7.99. Western Asset Intermediate Muni Fund shares last traded at $7.95, with a volume of 34,059 shares traded.

Western Asset Intermediate Muni Fund Trading Down 0.4%

The stock’s 50 day simple moving average is $7.81 and its 200 day simple moving average is $7.80.

Institutional Trading of Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently bought and sold shares of SBI. Wolverine Asset Management LLC lifted its stake in Western Asset Intermediate Muni Fund by 29.3% during the second quarter. Wolverine Asset Management LLC now owns 43,898 shares of the company’s stock worth $330,000 after purchasing an additional 9,943 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new stake in Western Asset Intermediate Muni Fund during the second quarter valued at $85,000. Traub Capital Management LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund during the second quarter worth $982,000. Captrust Financial Advisors bought a new position in shares of Western Asset Intermediate Muni Fund in the 2nd quarter worth about $96,000. Finally, IHT Wealth Management LLC boosted its holdings in shares of Western Asset Intermediate Muni Fund by 25.4% in the 2nd quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock valued at $153,000 after buying an additional 4,113 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.