SCHEDULE 13G/A: RiverNorth Capital Management Discloses 8.69% Stake in Western Asset Intermediate Muni Fund

RiverNorth Capital Management, LLC has filed an amended Schedule 13G, reporting a beneficial ownership of 8.69% of the common stock of Western Asset Intermediate Muni Fund Inc. as of March 31, 2025.

Summary

• RiverNorth Capital Management, LLC, an investment adviser based in West Palm Beach, Florida, has filed an Amendment No. 1 to its Schedule 13G.
• The filing indicates that RiverNorth Capital Management, LLC beneficially owns 1,223,607 shares of common stock in Western Asset Intermediate Muni Fund Inc.
• This ownership represents 8.69% of the total class of securities.
• The beneficial ownership includes sole voting power and sole dispositive power over all 1,223,607 shares.
• The reported ownership is as of March 31, 2025, with the filing signed on May 15, 2025.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The filing indicates a significant and stable institutional ownership stake by an investment adviser, which generally signals confidence in the issuer. There are no negative disclosures within the document itself.

Positives

• The disclosure of a significant 8.69% stake by an investment adviser like RiverNorth Capital Management may signal confidence in Western Asset Intermediate Muni Fund Inc.'s prospects.
• The filing explicitly states that the securities were acquired and are held in the ordinary course of business, indicating a long-term investment perspective rather than an activist intent.

Risks

• The document itself does not detail specific risks related to Western Asset Intermediate Muni Fund Inc.'s operations or financial health, as it is a beneficial ownership report.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the future performance or strategic direction of Western Asset Intermediate Muni Fund Inc. or RiverNorth Capital Management, LLC.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Marcus Collins, General Counsel and Chief Compliance Officer of RiverNorth Capital Management, LLC)

Industry Context

This filing is a standard regulatory disclosure in the investment management industry, where institutional investors like RiverNorth Capital Management are required to report significant beneficial ownership stakes (over 5%) in publicly traded companies to the SEC. Such filings provide transparency into major institutional holdings and can influence market perception of the issuer.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake can provide reassurance to existing shareholders and potentially attract new investors, as it indicates a professional investment firm sees value in the company.

Key Dates

Keywords

Western Asset Intermediate Muni Fund Inc., RiverNorth Capital Management, Schedule 13G, Beneficial Ownership, Investment Adviser, Common Stock, SEC Filing, Institutional Ownership, Muni Fund