Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Update

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 21,495 shares, a decline of 63.8% from the July 30th total of 59,313 shares. Based on an average daily volume of 24,426 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in FMN. Susquehanna International Group LLP purchased a new stake in Federated Hermes Premier Municipal Income Fund during the second quarter worth about $213,000. Rivernorth Capital Management LLC lifted its position in shares of Federated Hermes Premier Municipal Income Fund by 0.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 147,928 shares of the company’s stock valued at $1,700,000 after acquiring an additional 1,001 shares during the period. Bank of America Corp DE acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 2nd quarter valued at approximately $1,116,000. North Ground Capital purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 2nd quarter worth approximately $181,749. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 2nd quarter worth approximately $840,000.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of FMN remained flat at $11.07 during mid-day trading on Friday. The stock had a trading volume of 15,498 shares, compared to its average volume of 24,275. The business has a fifty day moving average of $11.23 and a 200-day moving average of $11.19. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.58 and a 1-year high of $11.76.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be issued a $0.045 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) dividend on an annualized basis and a yield of 4.9%.

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.