Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Rises By 96.0%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 59,313 shares, an increase of 96.0% from the July 15th total of 30,266 shares. Based on an average daily volume of 23,355 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in FMN. Scarborough Advisors LLC purchased a new position in shares of Federated Hermes Premier Municipal Income Fund during the 1st quarter worth about $30,000. Camelot Portfolios LLC purchased a new stake in Federated Hermes Premier Municipal Income Fund in the 4th quarter worth about $72,000. HighTower Advisors LLC purchased a new stake in Federated Hermes Premier Municipal Income Fund in the 4th quarter worth about $119,000. Jane Street Group LLC bought a new stake in Federated Hermes Premier Municipal Income Fund in the fourth quarter worth about $120,000. Finally, Citadel Advisors LLC bought a new stake in Federated Hermes Premier Municipal Income Fund in the third quarter worth about $173,000.

Federated Hermes Premier Municipal Income Fund Stock Performance

NYSE:FMN traded down $0.01 during midday trading on Monday, hitting $11.18. 14,216 shares of the company traded hands, compared to its average volume of 24,730. The firm’s fifty day moving average is $11.27 and its 200-day moving average is $11.20. Federated Hermes Premier Municipal Income Fund has a 12-month low of $10.56 and a 12-month high of $11.76.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be given a dividend of $0.045 per share. The ex-dividend date is Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 4.8%.

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.