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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 28,600 shares, a growth of 49.7% from the August 15th total of 19,100 shares. Based on an average daily trading volume, of 36,300 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Sar Wealth Management Group LLC bought a new position in shares of Western Asset Intermediate Muni Fund during the 4th quarter valued at about $267,000. Bulldog Investors LLP boosted its stake in Western Asset Intermediate Muni Fund by 8.4% during the fourth quarter. Bulldog Investors LLP now owns 52,697 shares of the company’s stock valued at $391,000 after buying an additional 4,065 shares during the last quarter. Alpine Global Management LLC bought a new position in Western Asset Intermediate Muni Fund during the first quarter valued at approximately $626,000. Whitebox Advisors LLC purchased a new position in Western Asset Intermediate Muni Fund during the 1st quarter valued at approximately $342,000. Finally, Bank of New York Mellon Corp bought a new stake in Western Asset Intermediate Muni Fund in the 2nd quarter worth approximately $818,000.

Western Asset Intermediate Muni Fund Stock Performance

Shares of NYSE SBI traded down $0.03 during mid-day trading on Monday, reaching $8.23. The company’s stock had a trading volume of 67,567 shares, compared to its average volume of 45,338. Western Asset Intermediate Muni Fund has a 52 week low of $6.96 and a 52 week high of $8.28. The stock has a fifty day moving average of $8.03 and a two-hundred day moving average of $7.89.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be paid a $0.042 dividend. The ex-dividend date is Monday, September 23rd. This represents a $0.50 annualized dividend and a yield of 6.13%.

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.