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 drop in short interest during the month of August. As of August 14th, there was short interest totaling 4,902 shares, a drop of 87.7% from the July 30th total of 40,004 shares. Based on an average daily volume of 50,314 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently modified their holdings of SBI. CoreCap Advisors LLC purchased a new position in Western Asset Intermediate Muni Fund during the second quarter valued at $32,000. 49 Wealth Management LLC purchased a new position in shares of Western Asset Intermediate Muni Fund during the 2nd quarter valued at about $84,000. Private Advisor Group LLC bought a new position in shares of Western Asset Intermediate Muni Fund during the 3rd quarter valued at approximately $91,000. Captrust Financial Advisors bought a new position in shares of Western Asset Intermediate Muni Fund during the 2nd quarter valued at approximately $96,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in Western Asset Intermediate Muni Fund in the 4th quarter worth approximately $134,000.

Western Asset Intermediate Muni Fund Price Performance

Shares of NYSE SBI traded up $0.01 during midday trading on Wednesday, hitting $7.63. 8,803 shares of the company’s stock traded hands, compared to its average volume of 43,957. The firm has a fifty day moving average of $7.74 and a 200 day moving average of $7.78. Western Asset Intermediate Muni Fund has a 1 year low of $7.52 and a 1 year high of $8.01.

Western Asset Intermediate Muni Fund Announces Dividend

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

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.