Western Asset Intermediate Muni Fund (NYSE:SBI) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-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 Trading Up 0.8 %

The stock’s 50-day moving average is $8.08 and its 200-day moving average is $8.03.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm 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 $0.042 dividend. This represents a $0.50 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Monday, December 23rd.

Hedge Funds Weigh In On Western Asset Intermediate Muni Fund

Several hedge funds and other institutional investors have recently made changes to their positions in SBI. HighTower Advisors LLC increased its holdings in Western Asset Intermediate Muni Fund by 22.8% in the 3rd quarter. HighTower Advisors LLC now owns 12,375 shares of the company’s stock valued at $101,000 after purchasing an additional 2,295 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of Western Asset Intermediate Muni Fund by 960.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 22,204 shares of the company’s stock worth $175,000 after buying an additional 20,111 shares during the period. Stephens Inc. AR acquired a new stake in shares of Western Asset Intermediate Muni Fund in the third quarter valued at about $203,000. Wolverine Asset Management LLC acquired a new stake in shares of Western Asset Intermediate Muni Fund in the second quarter valued at about $248,000. Finally, Carson Advisory Inc. purchased a new stake in shares of Western Asset Intermediate Muni Fund during the 3rd quarter valued at 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.