Hennion & Walsh Asset Management Inc. Grows Position in Western Asset Intermediate Muni Fund Inc. $SBI

Hennion & Walsh Asset Management Inc. increased its holdings in Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) by 204.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 275,915 shares of the company’s stock after buying an additional 185,385 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Western Asset Intermediate Muni Fund were worth $2,171,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC purchased a new stake in shares of Western Asset Intermediate Muni Fund during the 2nd quarter valued at about $32,000. Private Advisor Group LLC purchased a new position in shares of Western Asset Intermediate Muni Fund during the third quarter valued at approximately $91,000. Captrust Financial Advisors purchased a new position in shares of Western Asset Intermediate Muni Fund during the second quarter valued at approximately $96,000. Closed End Fund Advisors Inc. bought a new position in Western Asset Intermediate Muni Fund during the fourth quarter valued at approximately $134,000. Finally, Janney Montgomery Scott LLC lifted its position 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 valued at $152,000 after purchasing an additional 2,200 shares during the period.

Western Asset Intermediate Muni Fund Stock Down 0.1%

NYSE:SBI opened at $7.64 on Wednesday. Western Asset Intermediate Muni Fund Inc. has a 12 month low of $7.51 and a 12 month high of $8.01. The company has a 50 day simple moving average of $7.77 and a two-hundred day simple moving average of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.042 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, November 20th.

Western Asset Intermediate Muni Fund 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.