Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Crosses Above 50 Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.24 and traded as high as $7.31. Western Asset Intermediate Muni Fund shares last traded at $7.30, with a volume of 55,660 shares trading hands.

Western Asset Intermediate Muni Fund Stock Performance

The stock has a 50-day simple moving average of $7.24 and a two-hundred day simple moving average of $7.65.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its position in Western Asset Intermediate Muni Fund by 204.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock valued at $2,171,000 after acquiring an additional 185,385 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Western Asset Intermediate Muni Fund in the 3rd quarter worth approximately $56,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Western Asset Intermediate Muni Fund in the 3rd quarter worth approximately $154,000. Commonwealth Equity Services LLC lifted its holdings in shares of Western Asset Intermediate Muni Fund by 3.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 198,914 shares of the company’s stock worth $1,390,000 after acquiring an additional 6,852 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its stake in shares of Western Asset Intermediate Muni Fund by 3.7% in the 2nd quarter. Rivernorth Capital Management LLC now owns 1,231,561 shares of the company’s stock valued at $9,692,000 after purchasing an additional 43,628 shares in the last quarter.

About Western Asset Intermediate Muni Fund

Western Asset Intermediate Muni Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SBI. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal bonds and other municipal securities.

The fund focuses on intermediate-term municipal obligations issued by states, cities, counties, and other governmental entities, as well as related public-purpose organizations. Its portfolio may include securities financing projects and services such as education, transportation, utilities, health care, and other public infrastructure.