Western Asset Intermediate Muni Fund (NYSE:SBI) Stock Passes Above 50-Day Moving Average – Should You Sell?

Western Asset Intermediate Muni Fund Inc. (NYSE:SBI) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.15 and traded as high as $8.22. Western Asset Intermediate Muni Fund shares last traded at $8.22, with a volume of 26,199 shares changing hands.

Western Asset Intermediate Muni Fund Stock Performance

The company has a 50-day moving average of $8.15 and a 200-day moving average of $7.94.

Western Asset Intermediate Muni Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 24th will be given a $0.042 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.13%.

Institutional Investors Weigh In On Western Asset Intermediate Muni Fund

A number of institutional investors have recently modified their holdings of the business. Alpine Global Management LLC acquired a new position in Western Asset Intermediate Muni Fund in the first quarter valued at approximately $626,000. Whitebox Advisors LLC bought a new position in Western Asset Intermediate Muni Fund during the 1st quarter worth $342,000. Bank of New York Mellon Corp acquired a new stake in Western Asset Intermediate Muni Fund in the second quarter worth $818,000. Wolverine Asset Management LLC bought a new stake in Western Asset Intermediate Muni Fund in the second quarter valued at $248,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of Western Asset Intermediate Muni Fund by 960.9% during the second quarter. Blue Bell Private Wealth Management LLC now owns 22,204 shares of the company’s stock valued at $175,000 after acquiring an additional 20,111 shares during the period.

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.