Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Above Fifty Day Moving Average of $7.83

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $7.83 and traded as high as $7.83. Western Asset Intermediate Muni Fund shares last traded at $7.82, with a volume of 63,596 shares changing hands.

Western Asset Intermediate Muni Fund Stock Performance

The stock’s 50 day simple moving average is $7.83 and its 200-day simple moving average is $7.70.

Western Asset Intermediate Muni Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Thursday, May 23rd will be paid a $0.042 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.50 annualized dividend and a dividend yield of 6.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates raised its position in Western Asset Intermediate Muni Fund by 111.4% in the 4th quarter. Raymond James & Associates now owns 36,373 shares of the company’s stock valued at $280,000 after purchasing an additional 19,165 shares in the last quarter. Wolverine Asset Management LLC increased its stake in shares of Western Asset Intermediate Muni Fund by 108.1% during the fourth quarter. Wolverine Asset Management LLC now owns 5,000 shares of the company’s stock worth $38,000 after buying an additional 2,597 shares during the period. Advisor Partners II LLC acquired a new stake in Western Asset Intermediate Muni Fund in the third quarter valued at approximately $451,000. Fort Point Capital Partners LLC purchased a new position in Western Asset Intermediate Muni Fund in the third quarter worth approximately $117,000. Finally, AQR Arbitrage LLC grew its holdings in Western Asset Intermediate Muni Fund by 55.7% during the 3rd quarter. AQR Arbitrage LLC now owns 93,622 shares of the company’s stock worth $670,000 after acquiring an additional 33,473 shares in the last quarter.

Western Asset Intermediate Muni Fund Company Profile

Western Asset Intermediate Muni Fund Inc is a closed ended 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 fixed income markets of the United States. The fund invests in securities that provide income exempt from federal income tax.