Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 304.9% in May

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 59,193 shares, a growth of 304.9% from the April 30th total of 14,619 shares. Based on an average daily volume of 56,519 shares, the days-to-cover ratio is currently 1.0 days.

Western Asset Intermediate Muni Fund Price Performance

NYSE:SBI traded up $0.02 on Friday, reaching $7.82. The company’s stock had a trading volume of 33,822 shares, compared to its average volume of 39,527. Western Asset Intermediate Muni Fund has a 12-month low of $7.40 and a 12-month high of $8.01. The stock has a 50 day moving average price of $7.74 and a 200 day moving average price of $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

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

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBI. Private Advisor Group LLC purchased a new stake in Western Asset Intermediate Muni Fund in the third quarter valued at $91,000. Captrust Financial Advisors purchased a new stake in Western Asset Intermediate Muni Fund in the second quarter valued at $96,000. Closed End Fund Advisors Inc. purchased a new stake in Western Asset Intermediate Muni Fund in the fourth quarter valued at $134,000. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 2,200 shares during the period. Finally, IHT Wealth Management LLC grew its stake 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 in 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.