Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.81 and traded as low as $7.77. Western Asset Intermediate Muni Fund shares last traded at $7.8120, with a volume of 80,338 shares changing hands.

Western Asset Intermediate Muni Fund Price Performance

The firm’s 50 day moving average price is $7.80 and its 200-day moving average price is $7.81.

Western Asset Intermediate Muni Fund Dividend Announcement

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

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several large investors have recently made changes to their positions in SBI. Rivernorth Capital Management LLC raised its stake in shares of Western Asset Intermediate Muni Fund by 0.6% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock valued at $9,123,000 after purchasing an additional 7,396 shares during the period. Wells Fargo & Company MN boosted 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 worth $3,066,000 after buying an additional 65,251 shares during the period. Invesco Ltd. grew its holdings in shares of Western Asset Intermediate Muni Fund by 13.0% during the fourth quarter. Invesco Ltd. now owns 301,003 shares of the company’s stock worth $2,312,000 after buying an additional 34,631 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Western Asset Intermediate Muni Fund by 204.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock valued at $2,171,000 after buying an additional 185,385 shares during the last quarter. Finally, LPL Financial LLC raised its position in Western Asset Intermediate Muni Fund by 11.9% in the 4th quarter. LPL Financial LLC now owns 190,855 shares of the company’s stock valued at $1,466,000 after buying an additional 20,265 shares during the last quarter.

Western Asset Intermediate Muni Fund Company Profile

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.