Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Short Interest Update

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 4,902 shares, a drop 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 Trading Up 0.1%

SBI stock traded up $0.01 during midday trading on Wednesday, hitting $7.63. The company’s stock had a trading volume of 8,803 shares, compared to its average volume of 43,957. Western Asset Intermediate Muni Fund has a 12 month low of $7.52 and a 12 month high of $8.01. The company has a 50 day moving average of $7.74 and a two-hundred day moving average of $7.78.

Western Asset Intermediate Muni Fund Announces Dividend

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 paid a $0.042 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 6.6%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its stake in Western Asset Intermediate Muni Fund by 204.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 275,915 shares of the company’s stock worth $2,171,000 after acquiring an additional 185,385 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Western Asset Intermediate Muni Fund in the second quarter worth $32,000. Noble Wealth Management PBC lifted its position in Western Asset Intermediate Muni Fund by 30.0% during the second quarter. Noble Wealth Management PBC now owns 44,763 shares of the company’s stock valued at $352,000 after purchasing an additional 10,340 shares during the last quarter. Rivernorth Capital Management LLC grew its stake in shares of Western Asset Intermediate Muni Fund by 0.6% in the 1st quarter. Rivernorth Capital Management LLC now owns 1,187,933 shares of the company’s stock worth $9,123,000 after buying an additional 7,396 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Western Asset Intermediate Muni Fund by 7.5% in the 1st quarter. Royal Bank of Canada now owns 67,497 shares of the company’s stock worth $518,000 after buying an additional 4,716 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.