Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Grows By 57.5%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 17,800 shares, a growth of 57.5% from the March 31st total of 11,300 shares. Based on an average trading volume of 19,800 shares, the days-to-cover ratio is presently 0.9 days.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. bought 8,384 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $11.06 per share, with a total value of $92,727.04. Following the completion of the purchase, the insider now owns 1,606,410 shares of the company’s stock, valued at approximately $17,766,894.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 42,172 shares of company stock valued at $467,992 over the last 90 days.

Hedge Funds Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds have recently added to or reduced their stakes in FMN. Blue Bell Private Wealth Management LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter worth about $54,000. Fisher Asset Management LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter worth about $239,000. Sar Wealth Management Group LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter worth about $278,000. Capital Investment Advisors LLC increased its holdings in shares of Federated Hermes Premier Municipal Income Fund by 5.3% in the fourth quarter. Capital Investment Advisors LLC now owns 31,500 shares of the company’s stock worth $346,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Alpine Global Management LLC increased its holdings in shares of Federated Hermes Premier Municipal Income Fund by 79.2% in the third quarter. Alpine Global Management LLC now owns 78,312 shares of the company’s stock worth $750,000 after acquiring an additional 34,600 shares in the last quarter.

Federated Hermes Premier Municipal Income Fund Trading Up 0.2 %

NYSE:FMN opened at $11.01 on Monday. Federated Hermes Premier Municipal Income Fund has a 1-year low of $9.09 and a 1-year high of $11.31. The firm has a 50-day moving average of $11.06.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 23rd will be paid a $0.035 dividend. This represents a $0.42 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, April 22nd.

Federated Hermes Premier Municipal Income Fund Company Profile

Federated Premier Municipal Income Fund is a closed-ended fixed income mutual fund launched by Federated Investors, Inc The fund is managed by Federated Investment Management Company. It invests in fixed income markets of United States. The fund primarily invests in tax-exempt municipal bonds of GO state, GO local, special tax, hospital, transportation, pre-refunded, senior care, water and sewer, education, electric and gas, and public power sectors.