Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Below 200 Day Moving Average – What’s Next?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.80 and traded as low as $7.75. Western Asset Intermediate Muni Fund shares last traded at $7.7450, with a volume of 9,858 shares.

Western Asset Intermediate Muni Fund Trading Up 0.3%

The company has a 50-day moving average price of $7.74 and a 200-day moving average price of $7.80.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.042 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 6.5%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC raised its holdings in Western Asset Intermediate Muni Fund by 0.6% during the first quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock worth $9,123,000 after purchasing an additional 7,396 shares in the last quarter. Royal Bank of Canada raised its holdings in Western Asset Intermediate Muni Fund by 7.5% during the first 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 in the last quarter. Cetera Investment Advisers raised its holdings in Western Asset Intermediate Muni Fund by 1.8% during the first quarter. Cetera Investment Advisers now owns 180,685 shares of the company’s stock worth $1,388,000 after purchasing an additional 3,257 shares in the last quarter. Private Advisor Group LLC raised its holdings in Western Asset Intermediate Muni Fund by 61.1% during the first quarter. Private Advisor Group LLC now owns 22,035 shares of the company’s stock worth $169,000 after purchasing an additional 8,357 shares in the last quarter. Finally, Northwest Financial Advisors raised its holdings in Western Asset Intermediate Muni Fund by 5.9% during the first quarter. Northwest Financial Advisors now owns 46,461 shares of the company’s stock worth $357,000 after purchasing an additional 2,591 shares in the last quarter.

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.