Western Asset Intermediate Muni Fund (NYSE:SBI) Shares Climb 1% – Here’s Why

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s share price rose 1% on Friday. The stock traded as high as $7.31 and last traded at $7.30. 55,660 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 49,878 shares. The stock had previously closed at $7.23.

Western Asset Intermediate Muni Fund Price Performance

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

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in Western Asset Intermediate Muni Fund by 204.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock valued at $2,171,000 after acquiring an additional 185,385 shares during the last quarter. Rivernorth Capital Management LLC increased its position 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 valued at $9,692,000 after purchasing an additional 43,628 shares during the period. Bank of New York Mellon Corp bought a new position in Western Asset Intermediate Muni Fund during the 2nd quarter worth approximately $323,000. Ashton Thomas Private Wealth LLC bought a new position in Western Asset Intermediate Muni Fund during the 3rd quarter worth approximately $154,000. Finally, 49 Wealth Management LLC acquired a new position in shares of Western Asset Intermediate Muni Fund in the 2nd quarter worth approximately $84,000.

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.