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

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 13,247 shares, a decrease of 18.3% from the February 26th total of 16,217 shares. Based on an average daily volume of 17,210 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund in the third quarter worth approximately $173,000. Guggenheim Capital LLC boosted its position in Federated Hermes Premier Municipal Income Fund by 28.1% during the 4th quarter. Guggenheim Capital LLC now owns 286,092 shares of the company’s stock valued at $3,178,000 after buying an additional 62,843 shares during the period. North Ground Capital grew its holdings in Federated Hermes Premier Municipal Income Fund by 11.8% in the 4th quarter. North Ground Capital now owns 38,429 shares of the company’s stock worth $427,000 after acquiring an additional 4,058 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in Federated Hermes Premier Municipal Income Fund in the 4th quarter worth $330,000. Finally, Rivernorth Capital Management LLC purchased a new position in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter valued at about $279,000.

Federated Hermes Premier Municipal Income Fund Price Performance

NYSE:FMN traded up $0.28 during trading hours on Tuesday, reaching $10.94. The company’s stock had a trading volume of 31,399 shares, compared to its average volume of 29,013. The firm has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $11.12. Federated Hermes Premier Municipal Income Fund has a 1 year low of $10.11 and a 1 year high of $11.38.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 23rd will be paid a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, March 23rd.

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.