Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 318.6% in August

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 20,521 shares, an increase of 318.6% from the August 15th total of 4,902 shares. Based on an average daily trading volume, of 32,895 shares, the short-interest ratio is currently 0.6 days.

Western Asset Intermediate Muni Fund Price Performance

NYSE:SBI opened at $7.43 on Friday. Western Asset Intermediate Muni Fund has a fifty-two week low of $7.42 and a fifty-two week high of $8.01. The company has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $7.75.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.042 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 6.8%.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. grew its holdings in Western Asset Intermediate Muni Fund by 204.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock worth $2,171,000 after purchasing an additional 185,385 shares during the period. Royal Bank of Canada increased its holdings in shares of 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 valued at $236,000 after acquiring an additional 3,600 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Western Asset Intermediate Muni Fund by 42.3% in the 4th quarter. Osaic Holdings Inc. now owns 35,565 shares of the company’s stock worth $273,000 after purchasing an additional 10,576 shares in the last quarter. Raymond James Financial Inc. increased its stake in Western Asset Intermediate Muni Fund by 6.6% during the 2nd quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock valued at $1,428,000 after purchasing an additional 11,720 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Western Asset Intermediate Muni Fund by 19.5% during the fourth quarter. Wells Fargo & Company MN now owns 399,208 shares of the company’s stock valued at $3,066,000 after buying an additional 65,251 shares during the last quarter.

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.