Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Stock Price Down 0.1% – What’s Next?

Federated Hermes Premier Municipal Income Fund (NYSE:FMN)’s share price fell 0.1% during trading on Wednesday . The stock traded as low as $11.09 and last traded at $11.0950. 19,288 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 33,877 shares. The stock had previously closed at $11.11.

Federated Hermes Premier Municipal Income Fund Trading Down 0.1%

The business’s 50-day simple moving average is $11.12 and its 200-day simple moving average is $10.88.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 2nd. Investors of record on Tuesday, December 23rd will be given a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, December 23rd.

Hedge Funds Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds have recently bought and sold shares of FMN. Riverbridge Partners LLC raised its holdings in shares of Federated Hermes Premier Municipal Income Fund by 4.5% in the second quarter. Riverbridge Partners LLC now owns 90,486 shares of the company’s stock worth $963,000 after acquiring an additional 3,898 shares during the last quarter. Melfa Wealth Management Inc. increased its position in Federated Hermes Premier Municipal Income Fund by 6.8% during the 2nd quarter. Melfa Wealth Management Inc. now owns 26,121 shares of the company’s stock worth $278,000 after purchasing an additional 1,655 shares in the last quarter. Matisse Capital acquired a new position in Federated Hermes Premier Municipal Income Fund in the 2nd quarter valued at about $1,371,000. Guggenheim Capital LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 33.1% in the 2nd quarter. Guggenheim Capital LLC now owns 275,617 shares of the company’s stock valued at $2,933,000 after purchasing an additional 68,566 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Federated Hermes Premier Municipal Income Fund by 10.2% during the 2nd quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock worth $953,000 after purchasing an additional 8,251 shares during the last quarter.

About Federated Hermes Premier Municipal Income Fund

Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital. The fund primarily invests in a diversified portfolio of municipal securities, including investment-grade bonds, pre-refunded municipal obligations, variable rate demand obligations and related instruments. It may also allocate a portion of its assets to cash equivalents and repurchase agreements for liquidity and duration management.

The fund’s portfolio emphasizes quality and creditworthiness, focusing on sectors such as transportation, utilities, education and healthcare.