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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 6,385 shares, a drop of 57.7% from the December 15th total of 15,092 shares. Based on an average trading volume of 58,675 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 58,675 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Institutional investors have recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC bought a new stake in shares of Western Asset Intermediate Muni Fund in the second quarter worth $85,000. Private Advisor Group LLC acquired a new stake in Western Asset Intermediate Muni Fund in the 3rd quarter valued at $91,000. Captrust Financial Advisors bought a new stake in Western Asset Intermediate Muni Fund during the 2nd quarter worth about $96,000. IHT Wealth Management LLC lifted its position 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 buying an additional 4,113 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Western Asset Intermediate Muni Fund by 13.5% during the 1st quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock worth $236,000 after buying an additional 3,600 shares during the last quarter.

Western Asset Intermediate Muni Fund Price Performance

SBI stock traded down $0.01 during trading hours on Friday, reaching $7.81. 53,359 shares of the stock were exchanged, compared to its average volume of 44,724. The firm’s 50-day moving average is $7.77 and its 200-day moving average is $7.76. Western Asset Intermediate Muni Fund has a 12 month low of $7.30 and a 12 month high of $8.01.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be issued a dividend of $0.042 per share. The ex-dividend date is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Western Asset Intermediate Muni Fund Company Profile

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.