Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Breaks Above 50-Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $7.24 and traded as high as $7.31. Western Asset Intermediate Muni Fund shares last traded at $7.30, with a volume of 55,660 shares trading hands.

Western Asset Intermediate Muni Fund Stock Performance

The business has a 50 day simple moving average of $7.24 and a 200-day simple moving average of $7.65.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its stake in shares of Western Asset Intermediate Muni Fund by 1.8% in the first quarter. Cetera Investment Advisers now owns 180,685 shares of the company’s stock worth $1,388,000 after buying an additional 3,257 shares during the period. CoreCap Advisors LLC acquired a new position in Western Asset Intermediate Muni Fund during the second quarter worth about $32,000. Royal Bank of Canada raised its holdings in shares of Western Asset Intermediate Muni Fund by 7.5% in the 1st quarter. Royal Bank of Canada now owns 67,497 shares of the company’s stock worth $518,000 after purchasing an additional 4,716 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Western Asset Intermediate Muni Fund by 3.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 198,914 shares of the company’s stock worth $1,390,000 after buying an additional 6,852 shares during the last quarter. Finally, Rivernorth Capital Management LLC grew its position in Western Asset Intermediate Muni Fund by 0.6% in the first quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock worth $9,123,000 after buying an additional 7,396 shares during the last quarter.

About Western Asset Intermediate Muni Fund

Western Asset Intermediate Muni Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol SBI. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal bonds and other municipal securities.

The fund focuses on intermediate-term municipal obligations issued by states, cities, counties, and other governmental entities, as well as related public-purpose organizations. Its portfolio may include securities financing projects and services such as education, transportation, utilities, health care, and other public infrastructure.