Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.84 and traded as high as $7.91. Western Asset Intermediate Muni Fund shares last traded at $7.8450, with a volume of 33,341 shares changing hands.

Western Asset Intermediate Muni Fund Stock Performance

The stock’s 50-day moving average is $7.84 and its two-hundred day moving average is $7.82.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a dividend of $0.042 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 6.4%.

Institutional Trading of Western Asset Intermediate Muni Fund

Several hedge funds have recently modified their holdings of SBI. IHT Wealth Management LLC grew 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 purchasing an additional 2,103 shares in the last quarter. Royal Bank of Canada lifted its position in Western Asset Intermediate Muni Fund by 3.6% during the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock valued at $482,000 after purchasing an additional 2,165 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Western Asset Intermediate Muni Fund by 12.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock worth $152,000 after buying an additional 2,200 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Western Asset Intermediate Muni Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after buying an additional 2,643 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of Western Asset Intermediate Muni Fund by 5.1% in the 3rd quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock worth $707,000 after buying an additional 4,338 shares during the last quarter.

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.