Western Asset Intermediate Muni Fund Inc. (SBI) to Issue Monthly Dividend of $0.04 on July 31st

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) announced a monthly dividend on Thursday, May 14th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.042 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, July 24th.

Western Asset Intermediate Muni Fund Stock Performance

SBI stock opened at $7.82 on Wednesday. Western Asset Intermediate Muni Fund has a twelve month low of $7.51 and a twelve month high of $8.01. The stock’s 50 day moving average is $7.80 and its 200-day moving average is $7.81.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. boosted its position in Western Asset Intermediate Muni Fund by 204.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock worth $2,171,000 after purchasing an additional 185,385 shares during the last quarter. Invesco Ltd. increased its position in shares of Western Asset Intermediate Muni Fund by 55.5% during the 2nd quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock valued at $1,542,000 after purchasing an additional 73,181 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Western Asset Intermediate Muni Fund by 19.5% during the 4th quarter. Wells Fargo & Company MN now owns 399,208 shares of the company’s stock worth $3,066,000 after purchasing an additional 65,251 shares during the period. Northwest Financial Advisors raised its stake in shares of Western Asset Intermediate Muni Fund by 225.0% during the 4th quarter. Northwest Financial Advisors now owns 43,870 shares of the company’s stock worth $337,000 after purchasing an additional 30,370 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Western Asset Intermediate Muni Fund in the 4th quarter worth about $196,000.

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.