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

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large increase in short interest during 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 trading volume of 23,355 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

A number of institutional investors have recently modified their holdings of FMN. Bank of America Corp DE purchased a new position in Federated Hermes Premier Municipal Income Fund in the 2nd quarter valued at approximately $1,116,000. Jane Street Group LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the fourth quarter worth $120,000. Citadel Advisors LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the third quarter worth $173,000. Rivernorth Capital Management LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter worth $279,000. Finally, North Ground Capital boosted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 11.8% in the fourth 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 period.

Federated Hermes Premier Municipal Income Fund Stock Down 0.1%

NYSE FMN opened at $11.18 on Tuesday. Federated Hermes Premier Municipal Income Fund has a 52 week low of $10.56 and a 52 week high of $11.76. The firm’s 50-day simple moving average is $11.27 and its two-hundred day simple moving average is $11.20.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be given a $0.045 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 4.8%.

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.