Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 304.9% in May

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 59,193 shares, an increase of 304.9% from the April 30th total of 14,619 shares. Based on an average daily trading volume, of 56,519 shares, the short-interest ratio is currently 1.0 days.

Western Asset Intermediate Muni Fund Stock Performance

Western Asset Intermediate Muni Fund stock opened at $7.80 on Friday. The firm has a 50-day moving average of $7.74 and a 200-day moving average of $7.80. Western Asset Intermediate Muni Fund has a one year low of $7.40 and a one year high of $8.01.

Western Asset Intermediate Muni Fund Dividend Announcement

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

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Western Asset Intermediate Muni Fund by 7.5% in the 1st quarter. Royal Bank of Canada now owns 67,497 shares of the company’s stock valued at $518,000 after purchasing an additional 4,716 shares during the period. Cetera Investment Advisers raised its holdings in shares of Western Asset Intermediate Muni Fund by 1.8% in the 1st quarter. Cetera Investment Advisers now owns 180,685 shares of the company’s stock valued at $1,388,000 after purchasing an additional 3,257 shares during the period. Private Advisor Group LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 61.1% in the 1st quarter. Private Advisor Group LLC now owns 22,035 shares of the company’s stock valued at $169,000 after purchasing an additional 8,357 shares during the period. Northwest Financial Advisors raised its holdings in shares of Western Asset Intermediate Muni Fund by 5.9% in the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock valued at $357,000 after purchasing an additional 2,591 shares during the period. Finally, Riverbridge Partners LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 18.0% in the 1st quarter. Riverbridge Partners LLC now owns 48,234 shares of the company’s stock valued at $370,000 after purchasing an additional 7,363 shares during the period.

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.