Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.78 and traded as high as $7.91. Western Asset Intermediate Muni Fund shares last traded at $7.8550, with a volume of 34,679 shares changing hands.

Western Asset Intermediate Muni Fund Stock Performance

The business has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

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 6.4%. The ex-dividend date is Monday, August 24th.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC raised its position in Western Asset Intermediate Muni Fund by 9.7% during the 4th quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock worth $183,000 after buying an additional 2,103 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Western Asset Intermediate Muni Fund by 3.6% in the 4th quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock worth $482,000 after acquiring an additional 2,165 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of 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 in the last quarter. Northwest Financial Advisors increased 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 acquiring an additional 2,591 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Western Asset Intermediate Muni Fund by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after acquiring an additional 2,643 shares during the period.

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.