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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 40,119 shares, an increase of 160.0% from the June 30th total of 15,429 shares. Based on an average trading volume of 66,506 shares, the short-interest ratio is presently 0.6 days.

Western Asset Intermediate Muni Fund Trading Down 0.6%

NYSE:SBI traded down $0.05 during midday trading on Monday, reaching $7.66. The company had a trading volume of 34,428 shares, compared to its average volume of 42,972. Western Asset Intermediate Muni Fund has a 12-month low of $7.51 and a 12-month high of $8.01. The stock’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $7.81.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently declared 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 of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 6.6%.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently made changes to their positions in SBI. IHT Wealth Management LLC increased its stake in shares of Western Asset Intermediate Muni Fund by 9.7% during the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock worth $183,000 after buying an additional 2,103 shares during the period. Royal Bank of Canada lifted its stake in Western Asset Intermediate Muni Fund by 3.6% in the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock worth $482,000 after acquiring an additional 2,165 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake 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 worth $152,000 after acquiring an additional 2,200 shares during the last quarter. Northwest Financial Advisors grew its holdings in Western Asset Intermediate Muni Fund by 5.9% during the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after acquiring an additional 2,591 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Western Asset Intermediate Muni Fund by 1.5% during the 4th quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after acquiring an additional 2,643 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.