Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.77 and traded as high as $7.80. Western Asset Intermediate Muni Fund shares last traded at $7.7950, with a volume of 29,804 shares.

Western Asset Intermediate Muni Fund Trading Down 0.1%

The business’s fifty day moving average price is $7.77 and its 200 day moving average price is $7.76.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, February 20th.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of 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 worth $236,000 after acquiring an additional 3,600 shares during the last quarter. IHT Wealth Management LLC increased its position in Western Asset Intermediate Muni Fund by 25.4% in the second quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock worth $153,000 after purchasing an additional 4,113 shares during the period. Whipplewood Advisors LLC raised its holdings in Western Asset Intermediate Muni Fund by 5.1% during the 3rd quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock worth $707,000 after purchasing an additional 4,338 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Western Asset Intermediate Muni Fund by 29.3% during the 2nd quarter. Wolverine Asset Management LLC now owns 43,898 shares of the company’s stock worth $330,000 after purchasing an additional 9,943 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC acquired a new position in Western Asset Intermediate Muni Fund during the 2nd quarter valued at about $85,000.

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.