Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Sees Large Decline in Short Interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 15,092 shares, a decrease of 21.0% from the November 30th total of 19,093 shares. Based on an average daily trading volume, of 35,211 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 35,211 shares, the short-interest ratio is currently 0.4 days.

Western Asset Intermediate Muni Fund Price Performance

NYSE:SBI opened at $7.68 on Tuesday. Western Asset Intermediate Muni Fund has a 1 year low of $7.30 and a 1 year high of $8.01. The stock has a 50-day moving average price of $7.79 and a two-hundred day moving average price of $7.74.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.042 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Western Asset Intermediate Muni Fund by 13.5% in the first quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock valued at $236,000 after buying an additional 3,600 shares during the period. IHT Wealth Management LLC raised its stake in shares of Western Asset Intermediate Muni Fund by 25.4% in the 2nd quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock valued at $153,000 after purchasing an additional 4,113 shares during the period. Whipplewood Advisors LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 5.1% during the third quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock worth $707,000 after buying an additional 4,338 shares during the period. Wolverine Asset Management LLC grew its holdings in shares of Western Asset Intermediate Muni Fund by 29.3% during the second quarter. Wolverine Asset Management LLC now owns 43,898 shares of the company’s stock worth $330,000 after buying an additional 9,943 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC bought a new stake in Western Asset Intermediate Muni Fund in the 2nd quarter valued at approximately $85,000.

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.