Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.75 and traded as low as $7.42. Western Asset Intermediate Muni Fund shares last traded at $7.43, with a volume of 33,534 shares traded.

Western Asset Intermediate Muni Fund Stock Performance

The business has a 50 day simple moving average of $7.67 and a 200-day simple moving average of $7.75.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.042 dividend. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Friday, November 20th.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

A number of hedge funds have recently bought and sold shares of SBI. IHT Wealth Management LLC raised its holdings in shares of Western Asset Intermediate Muni Fund by 9.7% in the fourth quarter. IHT Wealth Management LLC now owns 23,801 shares of the company’s stock valued at $183,000 after purchasing an additional 2,103 shares during the last quarter. Royal Bank of Canada grew its position in Western Asset Intermediate Muni Fund by 3.6% in the 4th quarter. Royal Bank of Canada now owns 62,781 shares of the company’s stock worth $482,000 after purchasing an additional 2,165 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Western Asset Intermediate Muni Fund by 12.5% in the 4th 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 in the last quarter. Northwest Financial Advisors increased its stake in 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 valued at $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% during 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 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.