Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price passed 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 $7.78. Western Asset Intermediate Muni Fund shares last traded at $7.83, with a volume of 57,966 shares trading hands.

Western Asset Intermediate Muni Fund Price Performance

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

Western Asset Intermediate Muni Fund Announces Dividend

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

Institutional Trading of Western Asset Intermediate Muni Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Western Asset Intermediate Muni Fund by 13.5% during the 1st quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock worth $236,000 after buying an additional 3,600 shares during the period. Invesco Ltd. lifted 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 acquiring an additional 73,181 shares during the period. Raymond James Financial Inc. boosted its stake in Western Asset Intermediate Muni Fund by 6.6% during the second quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock worth $1,428,000 after acquiring an additional 11,720 shares in the last quarter. IHT Wealth Management LLC grew its holdings in 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 worth $153,000 after purchasing an additional 4,113 shares during the period. Finally, Captrust Financial Advisors bought a new stake in Western Asset Intermediate Muni Fund in the second quarter valued at $96,000.

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.