Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.08 and traded as low as $7.73. Western Asset Intermediate Muni Fund shares last traded at $7.77, with a volume of 192,544 shares.

Western Asset Intermediate Muni Fund Price Performance

The firm has a 50-day simple moving average of $8.08 and a two-hundred day simple moving average of $8.03.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.042 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date is Monday, December 23rd.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in Western Asset Intermediate Muni Fund by 22.8% in the third quarter. HighTower Advisors LLC now owns 12,375 shares of the company’s stock valued at $101,000 after acquiring an additional 2,295 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of Western Asset Intermediate Muni Fund by 960.9% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 22,204 shares of the company’s stock worth $175,000 after purchasing an additional 20,111 shares during the last quarter. Stephens Inc. AR purchased a new position in Western Asset Intermediate Muni Fund in the third quarter valued at $203,000. Wolverine Asset Management LLC acquired a new stake in Western Asset Intermediate Muni Fund in the second quarter valued at $248,000. Finally, Carson Advisory Inc. acquired a new stake in shares of Western Asset Intermediate Muni Fund during the 3rd quarter worth about $733,000.

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.