Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Sees Large Drop in Short Interest

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 11,025 shares, a drop of 62.1% from the January 15th total of 29,060 shares. Based on an average daily volume of 37,866 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 37,866 shares, the days-to-cover ratio is currently 0.3 days.

Western Asset Intermediate Muni Fund Price Performance

SBI stock opened at $7.98 on Wednesday. The firm has a 50 day simple moving average of $7.79 and a two-hundred day simple moving average of $7.79. Western Asset Intermediate Muni Fund has a one year low of $7.30 and a one year high of $8.01.

Western Asset Intermediate Muni Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.042 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Western Asset Intermediate Muni Fund by 55.5% during the 2nd quarter. Invesco Ltd. now owns 205,096 shares of the company’s stock valued at $1,542,000 after buying an additional 73,181 shares in the last quarter. Raymond James Financial Inc. raised its stake 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 acquiring an additional 11,720 shares in the last quarter. Traub Capital Management LLC bought a new stake in shares of Western Asset Intermediate Muni Fund in the 2nd quarter worth approximately $982,000. Whipplewood Advisors LLC boosted its stake in shares of Western Asset Intermediate Muni Fund by 5.1% in the 3rd quarter. Whipplewood Advisors LLC now owns 89,424 shares of the company’s stock valued at $707,000 after purchasing an additional 4,338 shares in the last quarter. Finally, Rock Point Advisors LLC boosted its stake in shares of Western Asset Intermediate Muni Fund by 11.0% in the 4th quarter. Rock Point Advisors LLC now owns 70,925 shares of the company’s stock valued at $545,000 after purchasing an additional 7,000 shares in 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.