Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $7.81 and traded as high as $7.99. Western Asset Intermediate Muni Fund shares last traded at $7.95, with a volume of 34,059 shares traded.

Western Asset Intermediate Muni Fund Stock Down 0.4%

The business has a 50 day simple moving average of $7.81 and a 200-day simple moving average of $7.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SBI. Horizon Kinetics Asset Management LLC bought a new stake in shares of Western Asset Intermediate Muni Fund during the second quarter valued at approximately $85,000. Private Advisor Group LLC acquired a new stake in Western Asset Intermediate Muni Fund in the 3rd quarter valued at approximately $91,000. Captrust Financial Advisors bought a new stake in Western Asset Intermediate Muni Fund during the 2nd quarter valued at $96,000. Closed End Fund Advisors Inc. acquired a new position in Western Asset Intermediate Muni Fund during the 4th quarter worth $134,000. Finally, Janney Montgomery Scott LLC grew its stake 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 worth $152,000 after purchasing an additional 2,200 shares in the last quarter.

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.