Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Shares of Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.83 and traded as low as $7.76. Western Asset Intermediate Muni Fund shares last traded at $7.8050, with a volume of 23,372 shares.

Western Asset Intermediate Muni Fund Stock Performance

The firm has a 50 day moving average price of $7.83 and a 200-day moving average price of $7.71.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently announced 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 Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of Western Asset Intermediate Muni Fund by 13.5% during the first quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock worth $236,000 after purchasing an additional 3,600 shares during the period. IHT Wealth Management LLC increased its stake in Western Asset Intermediate Muni Fund by 25.4% during the 2nd quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock worth $153,000 after purchasing an additional 4,113 shares in the last quarter. Whipplewood Advisors LLC raised its holdings 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 raised its holdings 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 bought a new position in Western Asset Intermediate Muni Fund in the second quarter valued at approximately $85,000.

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.