Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed 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.

Western Asset Intermediate Muni Fund Stock Up 0.2%

The firm’s fifty day simple moving average is $7.78 and its 200 day simple moving average is $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.042 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Thursday, May 21st.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in 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 buying an additional 3,600 shares during the period. Invesco Ltd. grew its stake in Western Asset Intermediate Muni Fund by 55.5% during the 2nd quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock valued at $1,542,000 after acquiring an additional 73,181 shares in the last quarter. Raymond James Financial Inc. grew 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 acquiring an additional 11,720 shares in the last quarter. IHT Wealth Management LLC increased its holdings 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. Finally, Captrust Financial Advisors acquired a new position in shares of Western Asset Intermediate Muni Fund in the 2nd quarter valued at about $96,000.

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.