Short Interest in Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) Drops By 38.8%

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 14,800 shares, a drop of 38.8% from the January 31st total of 24,200 shares. Based on an average daily trading volume, of 56,900 shares, the days-to-cover ratio is currently 0.3 days.

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. Stephens Inc. AR bought a new position in shares of Western Asset Intermediate Muni Fund in the third quarter valued at $203,000. Carson Advisory Inc. bought a new position in shares of Western Asset Intermediate Muni Fund in the third quarter valued at $733,000. Wolverine Asset Management LLC grew its stake in shares of Western Asset Intermediate Muni Fund by 66.1% in the third quarter. Wolverine Asset Management LLC now owns 52,493 shares of the company’s stock valued at $430,000 after buying an additional 20,884 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of Western Asset Intermediate Muni Fund by 23.6% in the third quarter. Pathstone Holdings LLC now owns 270,171 shares of the company’s stock valued at $2,216,000 after buying an additional 51,543 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Western Asset Intermediate Muni Fund by 22.8% during 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 during the last quarter.

Western Asset Intermediate Muni Fund Price Performance

Shares of NYSE:SBI traded down $0.03 during midday trading on Tuesday, hitting $7.91. The stock had a trading volume of 44,166 shares, compared to its average volume of 49,502. Western Asset Intermediate Muni Fund has a 12 month low of $7.60 and a 12 month high of $8.29. The business’s 50-day simple moving average is $7.82 and its 200-day simple moving average is $8.00.

Western Asset Intermediate Muni Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 24th will be paid a $0.042 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.50 annualized dividend and a dividend yield of 6.37%.

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.