Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Sees Significant Growth in Short Interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 20,521 shares, an increase of 318.6% from the August 15th total of 4,902 shares. Based on an average daily volume of 32,895 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds have recently bought and sold shares of SBI. Royal Bank of Canada increased its holdings in shares of Western Asset Intermediate Muni Fund by 13.5% in 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 last quarter. Invesco Ltd. lifted its holdings 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 worth $1,542,000 after acquiring an additional 73,181 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Western Asset Intermediate Muni Fund by 6.6% during the 2nd 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 during the last quarter. IHT Wealth Management LLC grew its position 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 acquiring an additional 4,113 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in Western Asset Intermediate Muni Fund in the second quarter worth $96,000.

Western Asset Intermediate Muni Fund Price Performance

NYSE:SBI opened at $7.43 on Friday. Western Asset Intermediate Muni Fund has a 1 year low of $7.42 and a 1 year high of $8.01. The business has a fifty day simple moving average of $7.67 and a two-hundred day simple moving average of $7.75.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a $0.042 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, November 20th.

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.