Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Crosses Below 50 Day Moving Average – Here’s Why

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.50 and traded as low as $7.45. Western Asset Intermediate Muni Fund shares last traded at $7.46, with a volume of 35,656 shares traded.

Western Asset Intermediate Muni Fund Trading Down 0.1%

The firm’s 50-day moving average is $7.50 and its two-hundred day moving average is $7.69.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th will be paid a dividend of $0.042 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a dividend yield of 6.72%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC acquired a new position in Western Asset Intermediate Muni Fund during the first quarter worth $28,000. Moors & Cabot Inc. bought a new stake in shares of Western Asset Intermediate Muni Fund during the 1st quarter worth about $87,000. Concorde Asset Management LLC acquired a new position in shares of Western Asset Intermediate Muni Fund during the 1st quarter valued at about $90,000. Northwest Financial Advisors bought a new position in shares of Western Asset Intermediate Muni Fund in the 1st quarter valued at approximately $105,000. Finally, PKS Advisory Services LLC bought a new position in shares of Western Asset Intermediate Muni Fund in the 4th quarter valued at approximately $108,000.

About Western Asset Intermediate Muni Fund

Western Asset Intermediate Muni Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax.