Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Large Increase in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 19,785 shares, a growth of 49.4% from the March 15th total of 13,247 shares. Based on an average daily volume of 33,550 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. boosted its position in Federated Hermes Premier Municipal Income Fund by 10.2% in the second quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock valued at $953,000 after buying an additional 8,251 shares in the last quarter. Riverbridge Partners LLC grew its holdings in Federated Hermes Premier Municipal Income Fund by 3.0% during the 3rd quarter. Riverbridge Partners LLC now owns 93,221 shares of the company’s stock worth $1,029,000 after acquiring an additional 2,735 shares during the period. North Ground Capital grew its stake in Federated Hermes Premier Municipal Income Fund by 72.8% during the third quarter. North Ground Capital now owns 34,371 shares of the company’s stock worth $379,000 after purchasing an additional 14,481 shares during the period. PFG Investments LLC acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 3rd quarter worth approximately $173,000. Finally, Pathstone Holdings LLC grew its holdings in Federated Hermes Premier Municipal Income Fund by 30.8% in the third quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after purchasing an additional 80,046 shares during the period.

Federated Hermes Premier Municipal Income Fund Stock Performance

NYSE:FMN opened at $11.22 on Thursday. Federated Hermes Premier Municipal Income Fund has a 12 month low of $10.34 and a 12 month high of $11.38. The company’s 50-day moving average price is $11.13 and its two-hundred day moving average price is $11.12.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Thursday, April 23rd will be paid a $0.045 dividend. The ex-dividend date is Thursday, April 23rd. This represents a c) annualized dividend 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.