Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Update

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 14,619 shares, a decline of 41.5% from the April 15th total of 24,996 shares. Based on an average trading volume of 43,597 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors have recently bought and sold shares of SBI. Invesco Ltd. increased its position in Western Asset Intermediate Muni Fund by 55.5% during the second quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock worth $1,542,000 after buying an additional 73,181 shares during the last quarter. Wells Fargo & Company MN increased its position in Western Asset Intermediate Muni Fund by 19.5% during the fourth quarter. Wells Fargo & Company MN now owns 399,208 shares of the company’s stock worth $3,066,000 after buying an additional 65,251 shares during the last quarter. Castle Wealth Management LLC acquired a new position in Western Asset Intermediate Muni Fund during the third quarter worth approximately $258,000. Northwest Financial Advisors increased its position in Western Asset Intermediate Muni Fund by 225.0% during the fourth quarter. Northwest Financial Advisors now owns 43,870 shares of the company’s stock worth $337,000 after buying an additional 30,370 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Western Asset Intermediate Muni Fund during the fourth quarter worth approximately $196,000.

Western Asset Intermediate Muni Fund Price Performance

Shares of NYSE:SBI traded down $0.02 during midday trading on Monday, reaching $7.73. The company had a trading volume of 15,132 shares, compared to its average volume of 40,182. The business’s 50 day moving average price is $7.76 and its 200 day moving average price is $7.80. Western Asset Intermediate Muni Fund has a 1-year low of $7.40 and a 1-year high of $8.01.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.042 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

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.