Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Up 304.9% in May

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 59,193 shares, an increase of 304.9% from the April 30th total of 14,619 shares. Based on an average trading volume of 56,519 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Western Asset Intermediate Muni Fund by 13.5% during the first quarter. Royal Bank of Canada now owns 30,278 shares of the company’s stock worth $236,000 after purchasing an additional 3,600 shares during the period. Invesco Ltd. increased its holdings in shares of Western Asset Intermediate Muni Fund by 55.5% during the second quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock worth $1,542,000 after purchasing an additional 73,181 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Western Asset Intermediate Muni Fund by 6.6% during the second quarter. Raymond James Financial Inc. now owns 189,929 shares of the company’s stock worth $1,428,000 after purchasing an additional 11,720 shares during the period. IHT Wealth Management LLC increased its holdings in shares of Western Asset Intermediate Muni Fund by 25.4% during 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 period. Finally, Captrust Financial Advisors bought a new position in shares of Western Asset Intermediate Muni Fund during the second quarter worth approximately $96,000.

Western Asset Intermediate Muni Fund Price Performance

Western Asset Intermediate Muni Fund stock opened at $7.80 on Friday. Western Asset Intermediate Muni Fund has a twelve month low of $7.40 and a twelve month high of $8.01. The company’s 50-day moving average price is $7.74 and its two-hundred day moving average price is $7.80.

Western Asset Intermediate Muni Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.042 dividend. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Monday, August 24th.

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.