Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) sees sharp drop in short-term interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI – Get Rating) was the target of a sharp decline in short-term interest during the month of July. As of July 31, there was short interest totaling 7,000 shares, down 19.5% from the July 15 total of 8,700 shares. Based on an average daily volume of 27,100 shares, the day-to-cover ratio is currently 0.3 days.

Western Asset Intermediate Muni Fund Stock up 0.8%

SBI opened at $8.39 on Friday. The company’s 50-day simple moving average is $8.13 and its 200-day simple moving average is $8.40. Western Asset Intermediate Muni Fund has a 12-month low of $7.72 and a 12-month high of $9.99.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 1. Shareholders of record on Tuesday, November 22 will receive a dividend of $0.0235. This represents an annualized dividend of $0.28 and a dividend yield of 3.36%. The ex-dividend date is Monday, November 21.

Institutional investors weigh in on Western Asset Intermediate Muni Fund

Several large investors have recently changed their positions in the company. LPL Financial LLC increased its position in Western Asset Intermediate Muni Fund by 9.4% in the second quarter. LPL Financial LLC now owns 187,037 shares of the company valued at $1,508,000 after acquiring an additional 16,005 shares in the last quarter. Fiera Capital Corp increased its position in Western Asset Intermediate Muni Fund by 4.9% in the second quarter. Fiera Capital Corp now owns 154,218 shares of the company valued at $1,243,000 after acquiring 7,217 additional shares in the last quarter. Rock Point Advisors LLC increased its position in Western Asset Intermediate Muni Fund by 16.0% in the second quarter. Rock Point Advisors LLC now owns 52,500 shares of the company valued at $423,000 after acquiring an additional 7,250 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Western Asset Intermediate Muni Fund in the second quarter, valued at around $28,000. Finally, Park Avenue Securities LLC increased its position in Western Asset Intermediate Muni Fund by 2.6% in the second quarter. Park Avenue Securities LLC now owns 112,215 shares of the company valued at $904,000 after acquiring 2,885 additional shares in the last quarter.

About the Western Asset Intermediate Muni Fund

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Western Asset Intermediate Muni Fund Inc is a closed-end, fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Western Asset Management Company. It invests in the US bond markets. The fund invests in securities that provide income exempt from federal income tax.

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