Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Cross Below 200 Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.80 and traded as low as $7.78. Western Asset Intermediate Muni Fund shares last traded at $7.83, with a volume of 57,966 shares.

Western Asset Intermediate Muni Fund Trading Up 0.1%

The company has a fifty day moving average price of $7.80 and a two-hundred day moving average price of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.042 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 6.4%.

Institutional Trading of Western Asset Intermediate Muni Fund

Large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its stake in shares of Western Asset Intermediate Muni Fund by 204.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock worth $2,171,000 after acquiring an additional 185,385 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Western Asset Intermediate Muni Fund during the 2nd quarter worth $32,000. Noble Wealth Management PBC boosted its position in shares of Western Asset Intermediate Muni Fund by 30.0% during the 2nd quarter. Noble Wealth Management PBC now owns 44,763 shares of the company’s stock valued at $352,000 after acquiring an additional 10,340 shares during the last quarter. Rivernorth Capital Management LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 0.6% during the 1st quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock valued at $9,123,000 after acquiring an additional 7,396 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Western Asset Intermediate Muni Fund by 7.5% in the first quarter. Royal Bank of Canada now owns 67,497 shares of the company’s stock valued at $518,000 after purchasing an additional 4,716 shares during the period.

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.