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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI – Get Free Report) saw a significant 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 trading volume, of 30,017 shares, the days-to-cover ratio is presently 1.3 days.

Western Asset Intermediate Muni Fund Stock Up 0.0%

NYSE:SBI traded up $0.00 during mid-day trading on Tuesday, reaching $7.80. 42,720 shares of the company were exchanged, compared to its average volume of 38,537. Western Asset Intermediate Muni Fund has a 12 month low of $7.40 and a 12 month high of $8.01. The company has a fifty day moving average of $7.77 and a 200 day moving average of $7.80.

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Western Asset Intermediate Muni Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Western Asset Intermediate Muni Fund by 7.5% in the first quarter. Royal Bank of Canada now owns 67,497 shares of the company’s stock valued at $518,000 after acquiring an additional 4,716 shares during the last quarter. Cetera Investment Advisers lifted its position in Western Asset Intermediate Muni Fund by 1.8% during the 1st quarter. Cetera Investment Advisers now owns 180,685 shares of the company’s stock valued at $1,388,000 after purchasing an additional 3,257 shares during the period. Private Advisor Group LLC boosted its stake in shares of Western Asset Intermediate Muni Fund by 61.1% in the 1st quarter. Private Advisor Group LLC now owns 22,035 shares of the company’s stock valued at $169,000 after purchasing an additional 8,357 shares during the last quarter. Northwest Financial Advisors raised its stake in shares of Western Asset Intermediate Muni Fund by 5.9% during the first quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after buying an additional 2,591 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Western Asset Intermediate Muni Fund by 12.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after acquiring an additional 2,200 shares during the last quarter.

About Western Asset Intermediate Muni Fund

(Get Free Report)

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.

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