Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Cross Below 200-Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.77 and traded as low as $7.55. Western Asset Intermediate Muni Fund shares last traded at $7.5750, with a volume of 33,141 shares traded.

Western Asset Intermediate Muni Fund Trading Up 0.1%

The business’s fifty day simple moving average is $7.71 and its 200 day simple moving average is $7.77.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.042 per share. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC lifted its holdings in Western Asset Intermediate Muni Fund by 3.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,231,561 shares of the company’s stock worth $9,692,000 after buying an additional 43,628 shares in the last quarter. 49 Wealth Management LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund in the 2nd quarter valued at $84,000. Bank of New York Mellon Corp acquired a new stake in shares of Western Asset Intermediate Muni Fund in the 2nd quarter valued at $323,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Western Asset Intermediate Muni Fund by 204.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock worth $2,171,000 after acquiring an additional 185,385 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Western Asset Intermediate Muni Fund during the second quarter worth $32,000.

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.