Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $7.78 and traded as high as $7.91. Western Asset Intermediate Muni Fund shares last traded at $7.8550, with a volume of 34,679 shares trading hands.

Western Asset Intermediate Muni Fund Trading Up 0.1%

The stock has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Monday, August 24th.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several large investors have recently modified their holdings of SBI. Private Advisor Group LLC acquired a new position in shares of Western Asset Intermediate Muni Fund in the 3rd quarter valued at $91,000. Captrust Financial Advisors acquired a new position in Western Asset Intermediate Muni Fund in the second quarter valued at $96,000. Closed End Fund Advisors Inc. acquired a new position in Western Asset Intermediate Muni Fund in the fourth quarter valued at $134,000. Janney Montgomery Scott LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 12.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock valued at $152,000 after buying an additional 2,200 shares during the last quarter. Finally, IHT Wealth Management LLC raised its holdings in shares of 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 valued at $153,000 after buying an additional 4,113 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.