Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Shares Up 0.1% – Here’s Why

Federated Hermes Premier Municipal Income Fund (NYSE:FMN)’s stock price traded up 0.1% during trading on Thursday . The company traded as high as $11.27 and last traded at $11.26. 50,294 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 29,737 shares. The stock had previously closed at $11.25.

Federated Hermes Premier Municipal Income Fund Stock Performance

The firm’s 50-day simple moving average is $11.13 and its 200-day simple moving average is $10.98.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 23rd were given a dividend of $0.045 per share. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, January 23rd.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

A number of institutional investors have recently made changes to their positions in FMN. Noble Wealth Management PBC increased its stake in shares of Federated Hermes Premier Municipal Income Fund by 5.7% in the fourth quarter. Noble Wealth Management PBC now owns 37,750 shares of the company’s stock worth $419,000 after buying an additional 2,050 shares during the period. Riverbridge Partners LLC grew its holdings in Federated Hermes Premier Municipal Income Fund by 3.0% in 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 last quarter. Melfa Wealth Management Inc. increased its position in shares of Federated Hermes Premier Municipal Income Fund by 19.1% in the fourth quarter. Melfa Wealth Management Inc. now owns 31,121 shares of the company’s stock valued at $346,000 after acquiring an additional 5,000 shares during the period. Camelot Portfolios LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund during the fourth quarter valued at about $72,000. Finally, Raymond James Financial Inc. raised its stake in shares of Federated Hermes Premier Municipal Income Fund by 10.2% during the second quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock valued at $953,000 after acquiring an additional 8,251 shares during the last quarter.

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.