Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Above 50 Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.75 and traded as high as $7.82. Western Asset Intermediate Muni Fund shares last traded at $7.74, with a volume of 37,871 shares trading hands.

Western Asset Intermediate Muni Fund Price Performance

The company’s 50 day moving average is $7.75 and its two-hundred day moving average is $7.79.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a $0.042 dividend. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its stake in shares of Western Asset Intermediate Muni Fund by 9.7% in the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after buying an additional 2,103 shares during the period. Royal Bank of Canada lifted its stake in Western Asset Intermediate Muni Fund by 3.6% during the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock worth $482,000 after purchasing an additional 2,165 shares during the period. Janney Montgomery Scott LLC lifted its stake in Western Asset Intermediate Muni Fund by 12.5% during 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 during the period. Northwest Financial Advisors lifted its stake in Western Asset Intermediate Muni Fund by 5.9% during the first quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after purchasing an additional 2,591 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Western Asset Intermediate Muni Fund by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after purchasing an additional 2,643 shares during the period.

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.