Western Asset Intermediate Muni Fund Inc. (SBI) to Issue Monthly Dividend of $0.04 on August 31st

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) announced a monthly dividend on Thursday, May 14th. Investors of record on Monday, August 24th will be paid a dividend of 0.042 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Monday, August 24th.

Western Asset Intermediate Muni Fund Price Performance

Shares of NYSE SBI opened at $7.75 on Friday. The company’s fifty day moving average price is $7.76 and its 200 day moving average price is $7.80. Western Asset Intermediate Muni Fund has a 1 year low of $7.40 and a 1 year high of $8.01.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of hedge funds have recently added to or reduced their stakes in SBI. Royal Bank of Canada boosted its holdings in 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 buying an additional 3,600 shares in the last quarter. Invesco Ltd. boosted its holdings in Western Asset Intermediate Muni Fund by 55.5% during the second quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock worth $1,542,000 after buying an additional 73,181 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in Western Asset Intermediate Muni Fund by 6.6% during the second quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock worth $1,428,000 after buying an additional 11,720 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Western Asset Intermediate Muni Fund by 25.4% during the second 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, Captrust Financial Advisors purchased a new stake in Western Asset Intermediate Muni Fund during the second quarter worth $96,000.

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.