Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 209.1% in February

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 20,426 shares, an increase of 209.1% from the February 12th total of 6,609 shares. Based on an average daily volume of 43,261 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 43,261 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBI. Horizon Kinetics Asset Management LLC acquired a new position in shares of Western Asset Intermediate Muni Fund in the 2nd quarter valued at $85,000. Private Advisor Group LLC purchased a new stake in Western Asset Intermediate Muni Fund in the 3rd quarter valued at about $91,000. Captrust Financial Advisors purchased a new stake in Western Asset Intermediate Muni Fund in the 2nd quarter valued at about $96,000. Closed End Fund Advisors Inc. acquired a new position in Western Asset Intermediate Muni Fund during the 4th quarter worth about $134,000. Finally, Janney Montgomery Scott LLC boosted its holdings in 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 period.

Western Asset Intermediate Muni Fund Price Performance

Shares of NYSE:SBI traded down $0.01 during midday trading on Wednesday, hitting $7.88. The company had a trading volume of 15,012 shares, compared to its average volume of 34,100. The business’s 50-day simple moving average is $7.86 and its 200-day simple moving average is $7.83. Western Asset Intermediate Muni Fund has a twelve month low of $7.30 and a twelve month high of $8.01.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be given a $0.042 dividend. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Thursday, May 21st.

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.