Short Interest in Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Declines By 87.7%

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 4,902 shares, a decline of 87.7% from the July 30th total of 40,004 shares. Based on an average daily volume of 50,314 shares, the days-to-cover ratio is currently 0.1 days.

Western Asset Intermediate Muni Fund Price Performance

Shares of SBI stock traded up $0.01 during trading hours on Thursday, reaching $7.62. The company had a trading volume of 27,320 shares, compared to its average volume of 43,867. Western Asset Intermediate Muni Fund has a twelve month low of $7.52 and a twelve month high of $8.01. The stock’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $7.78.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a $0.042 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, November 20th.

Institutional Trading of Western Asset Intermediate Muni Fund

A number of hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC lifted its stake in 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 purchasing an additional 2,103 shares during the last quarter. Royal Bank of Canada increased its stake in Western Asset Intermediate Muni Fund by 3.6% during the fourth quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock valued at $482,000 after purchasing an additional 2,165 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 12.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 19,850 shares of the company’s stock worth $152,000 after purchasing an additional 2,200 shares during the period. Northwest Financial Advisors lifted its position in shares of Western Asset Intermediate Muni Fund by 5.9% in the 1st quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after buying an additional 2,591 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Western Asset Intermediate Muni Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 177,428 shares of the company’s stock worth $1,363,000 after buying an additional 2,643 shares during 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.