Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Update

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 14,619 shares, a decline of 41.5% from the April 15th total of 24,996 shares. Based on an average daily volume of 43,597 shares, the days-to-cover ratio is currently 0.3 days.

Western Asset Intermediate Muni Fund Trading Down 0.2%

SBI traded down $0.02 on Monday, hitting $7.73. 15,132 shares of the company’s stock were exchanged, compared to its average volume of 40,182. Western Asset Intermediate Muni Fund has a fifty-two week low of $7.40 and a fifty-two week high of $8.01. The firm has a 50-day moving average price of $7.76 and a 200-day moving average price of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.042 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. IHT Wealth Management LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 9.7% during the 4th quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after acquiring an additional 2,103 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Western Asset Intermediate Muni Fund by 3.6% during the 4th quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock valued at $482,000 after acquiring an additional 2,165 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 12.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after acquiring an additional 2,200 shares during the last quarter. Northwest Financial Advisors boosted its position in shares of Western Asset Intermediate Muni Fund by 5.9% during the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock valued at $357,000 after acquiring an additional 2,591 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Western Asset Intermediate Muni Fund by 1.5% during the 4th quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock valued at $1,363,000 after acquiring an additional 2,643 shares during 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.