Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Cross Below 200 Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.81 and traded as low as $7.77. Western Asset Intermediate Muni Fund shares last traded at $7.8120, with a volume of 80,338 shares.

Western Asset Intermediate Muni Fund Stock Performance

The stock has a 50-day moving average of $7.80 and a 200-day moving average of $7.81.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.042 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of large investors have recently modified their holdings of SBI. CoreCap Advisors LLC acquired a new position in Western Asset Intermediate Muni Fund during the 2nd quarter valued at about $32,000. Private Advisor Group LLC bought a new stake in shares of Western Asset Intermediate Muni Fund during the third quarter valued at approximately $91,000. Captrust Financial Advisors acquired a new position in shares of Western Asset Intermediate Muni Fund during the second quarter worth approximately $96,000. Closed End Fund Advisors Inc. bought a new position in Western Asset Intermediate Muni Fund in the 4th quarter worth approximately $134,000. Finally, Janney Montgomery Scott LLC grew its holdings in Western Asset Intermediate Muni Fund by 12.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock worth $152,000 after buying an additional 2,200 shares in the last quarter.

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.