Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Sees Significant Drop in Short Interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI – Get Rating) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 2,900 shares, a decrease of 71.0% from the April 30th total of 10,000 shares. Based on an average daily trading volume, of 23,700 shares, the days-to-cover ratio is currently 0.1 days.

Shares of Western Asset Intermediate Muni Fund stock traded up $0.08 on Friday, reaching $8.23. The stock had a trading volume of 37,325 shares, compared to its average volume of 23,494. Western Asset Intermediate Muni Fund has a 1 year low of $7.72 and a 1 year high of $9.99. The business’s 50 day moving average is $8.17 and its two-hundred day moving average is $8.93.

The company also recently declared a monthly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 24th will be issued a $0.0235 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, August 23rd.

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Western Asset Intermediate Muni Fund by 25.8% in the first quarter. Royal Bank of Canada now owns 90,397 shares of the company’s stock worth $777,000 after buying an additional 18,558 shares in the last quarter. Mariner LLC lifted its holdings in shares of Western Asset Intermediate Muni Fund by 75.0% in the first quarter. Mariner LLC now owns 65,981 shares of the company’s stock worth $567,000 after buying an additional 28,268 shares in the last quarter. Hightower 6M Holding LLC purchased a new stake in shares of Western Asset Intermediate Muni Fund in the first quarter worth about $127,000. Rock Point Advisors LLC lifted its holdings in shares of Western Asset Intermediate Muni Fund by 69.2% in the first quarter. Rock Point Advisors LLC now owns 45,250 shares of the company’s stock worth $389,000 after buying an additional 18,500 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in shares of Western Asset Intermediate Muni Fund by 182.0% in the first quarter. Fiera Capital Corp now owns 147,001 shares of the company’s stock worth $1,263,000 after buying an additional 94,876 shares in the last quarter.

About Western Asset Intermediate Muni Fund (Get Rating)

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.

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