Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Significant Growth in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 26,254 shares, an increase of 113.7% from the June 15th total of 12,284 shares. Based on an average trading volume of 24,794 shares, the days-to-cover ratio is currently 1.1 days.

Federated Hermes Premier Municipal Income Fund Trading Down 0.0%

Shares of NYSE FMN traded down $0.01 during trading on Thursday, reaching $11.37. The company had a trading volume of 11,006 shares, compared to its average volume of 24,858. Federated Hermes Premier Municipal Income Fund has a 52 week low of $10.40 and a 52 week high of $11.76. The business’s 50 day moving average price is $11.29 and its 200-day moving average price is $11.20.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be given a $0.045 dividend. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date is Thursday, July 23rd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 2nd quarter valued at $840,000. Noble Wealth Management PBC lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 13.2% during the second quarter. Noble Wealth Management PBC now owns 43,250 shares of the company’s stock valued at $497,000 after acquiring an additional 5,050 shares during the period. Bank of America Corp DE lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 7.0% during the first quarter. Bank of America Corp DE now owns 133,861 shares of the company’s stock valued at $1,463,000 after acquiring an additional 8,804 shares during the period. Rivernorth Capital Management LLC boosted its holdings in Federated Hermes Premier Municipal Income Fund by 484.2% in the first quarter. Rivernorth Capital Management LLC now owns 146,927 shares of the company’s stock valued at $1,606,000 after acquiring an additional 121,777 shares during the last quarter. Finally, Bulldog Investors LLP bought a new position in Federated Hermes Premier Municipal Income Fund in the first quarter valued at about $374,000.

Federated Hermes Premier Municipal Income Fund Company Profile

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.