Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 209.1% in February

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 20,426 shares, an increase of 209.1% from the February 12th total of 6,609 shares. Based on an average daily volume of 43,261 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 43,261 shares, the short-interest ratio is presently 0.5 days.

Western Asset Intermediate Muni Fund Trading Down 0.1%

NYSE SBI traded down $0.01 on Friday, hitting $7.87. The company’s stock had a trading volume of 20,895 shares, compared to its average volume of 33,773. Western Asset Intermediate Muni Fund has a 52-week low of $7.30 and a 52-week high of $8.01. The company’s 50-day simple moving average is $7.87 and its 200 day simple moving average is $7.83.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a $0.042 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 6.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Traub Capital Management LLC purchased a new stake in shares of Western Asset Intermediate Muni Fund in the 2nd quarter worth about $982,000. Invesco Ltd. increased its position in shares of Western Asset Intermediate Muni Fund by 55.5% during the second quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock valued at $1,542,000 after buying an additional 73,181 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 valued at $3,066,000 after buying an additional 65,251 shares during the period. Riverbridge Partners LLC bought a new position in Western Asset Intermediate Muni Fund in the third quarter worth about $325,000. Finally, Castle Wealth Management LLC bought a new position in Western Asset Intermediate Muni Fund in the third quarter worth about $258,000.

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.