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

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant growth in short interest during 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 volume of 36,300 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

Several institutional investors have recently modified their holdings of SBI. Sar Wealth Management Group LLC bought a new position in shares of Western Asset Intermediate Muni Fund during the 4th quarter valued at approximately $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 worth $391,000 after buying an additional 4,065 shares during the period. Alpine Global Management LLC bought a new position in Western Asset Intermediate Muni Fund during the first quarter valued at $626,000. Whitebox Advisors LLC purchased a new stake in shares of Western Asset Intermediate Muni Fund in the first quarter valued at $342,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Western Asset Intermediate Muni Fund in the second quarter valued at $818,000.

Western Asset Intermediate Muni Fund Stock Down 0.3 %

Shares of NYSE:SBI traded down $0.03 during 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 12 month low of $6.96 and a 12 month high of $8.28. The firm’s 50 day simple moving average is $8.03 and its two-hundred day simple moving average is $7.89.

Western Asset Intermediate Muni Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd will be given a dividend of $0.042 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.50 dividend on an annualized basis and a yield of 6.13%.

About Western Asset Intermediate Muni Fund

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.