Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Pass Below 200 Day Moving Average – Here’s Why

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.80 and traded as low as $7.75. Western Asset Intermediate Muni Fund shares last traded at $7.7450, with a volume of 9,858 shares changing hands.

Western Asset Intermediate Muni Fund Stock Down 0.1%

The company’s 50 day simple moving average is $7.75 and its 200 day simple moving average is $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently declared 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) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC boosted its holdings in shares of Western Asset Intermediate Muni Fund by 11.9% in the fourth 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 period. Raymond James Financial Inc. boosted its holdings in shares of Western Asset Intermediate Muni Fund by 6.6% in the second quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock valued at $1,428,000 after buying an additional 11,720 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Western Asset Intermediate Muni Fund by 1.5% in the fourth quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock valued at $1,363,000 after buying an additional 2,643 shares during the period. Royal Bank of Canada boosted its holdings in shares of Western Asset Intermediate Muni Fund by 3.6% in the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock valued at $482,000 after buying an additional 2,165 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in shares of Western Asset Intermediate Muni Fund by 9.7% in the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after buying an additional 2,103 shares during the period.

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.