Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.77 and traded as low as $7.74. Western Asset Intermediate Muni Fund shares last traded at $7.7950, with a volume of 21,609 shares traded.

Western Asset Intermediate Muni Fund Stock Up 0.6%

The company has a 50 day moving average of $7.77 and a 200 day moving average of $7.75.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.042 dividend. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Western Asset Intermediate Muni Fund by 13.5% in the 1st quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock valued at $236,000 after acquiring an additional 3,600 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Western Asset Intermediate Muni Fund by 25.4% in the second quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock valued at $153,000 after purchasing an additional 4,113 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Western Asset Intermediate Muni Fund by 5.1% during the 3rd quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock worth $707,000 after buying an additional 4,338 shares during the period. Wolverine Asset Management LLC increased its stake in Western Asset Intermediate Muni Fund by 29.3% during the 2nd quarter. Wolverine Asset Management LLC now owns 43,898 shares of the company’s stock worth $330,000 after buying an additional 9,943 shares during the period. Finally, Horizon Kinetics Asset Management LLC acquired a new stake in Western Asset Intermediate Muni Fund during the 2nd quarter worth approximately $85,000.

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.