Short Interest in Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Drops By 57.7%

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 6,385 shares, a decrease of 57.7% from the December 15th total of 15,092 shares. Based on an average daily trading volume, of 58,675 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 58,675 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Western Asset Intermediate Muni Fund by 13.5% in the 1st quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock worth $236,000 after acquiring an additional 3,600 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Western Asset Intermediate Muni Fund by 25.4% in the second quarter. IHT Wealth Management LLC now owns 20,328 shares of the company’s stock worth $153,000 after purchasing an additional 4,113 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in Western Asset Intermediate Muni Fund by 5.1% in the third quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock worth $707,000 after purchasing an additional 4,338 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Western Asset Intermediate Muni Fund by 29.3% during the second quarter. Wolverine Asset Management LLC now owns 43,898 shares of the company’s stock valued at $330,000 after buying an additional 9,943 shares during the period. Finally, Horizon Kinetics Asset Management LLC bought a new position in shares of Western Asset Intermediate Muni Fund during the second quarter valued at about $85,000.

Western Asset Intermediate Muni Fund Stock Performance

Shares of NYSE SBI traded down $0.04 during mid-day trading on Thursday, reaching $7.80. 161,838 shares of the company were exchanged, compared to its average volume of 43,864. Western Asset Intermediate Muni Fund has a 52 week low of $7.30 and a 52 week high of $8.01. The company’s 50 day moving average price is $7.77 and its 200 day moving average price is $7.76.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a $0.042 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, February 20th.

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.