Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.80 and traded as low as $7.77. Western Asset Intermediate Muni Fund shares last traded at $7.7970, with a volume of 19,085 shares changing hands.

Western Asset Intermediate Muni Fund Trading Up 0.2%

The business has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be issued a dividend of $0.042 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds have recently added to or reduced their stakes in SBI. Private Advisor Group LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund during the 3rd quarter worth about $91,000. Captrust Financial Advisors acquired a new stake in Western Asset Intermediate Muni Fund during the second quarter worth approximately $96,000. Closed End Fund Advisors Inc. bought a new stake in shares of Western Asset Intermediate Muni Fund during the fourth quarter worth approximately $134,000. Janney Montgomery Scott LLC grew its position in shares of Western Asset Intermediate Muni Fund by 12.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after purchasing an additional 2,200 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in shares of Western Asset Intermediate Muni Fund by 25.4% during the second quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock worth $153,000 after purchasing an additional 4,113 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.