Federated Hermes Premier Municipal Income Fund (NYSE:FMN) to Issue Monthly Dividend of $0.04

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) announced a monthly dividend on Thursday, September 10th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of 0.045 per share on Thursday, October 1st. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Wednesday, September 23rd.

Federated Hermes Premier Municipal Income Fund Trading Down 1.3%

Shares of FMN stock traded down $0.14 during mid-day trading on Thursday, reaching $10.56. The company’s stock had a trading volume of 69,875 shares, compared to its average volume of 24,347. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.53 and a 1-year high of $11.76. The firm’s 50-day moving average is $11.15 and its two-hundred day moving average is $11.17.

Institutional Inflows and Outflows

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

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.