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

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

Federated Hermes Premier Municipal Income Fund Price Performance

NYSE:FMN remained flat at $11.07 during trading hours on Friday. The company’s stock had a trading volume of 15,498 shares, compared to its average volume of 24,275. The business’s 50-day moving average price is $11.23 and its 200-day moving average price is $11.19. Federated Hermes Premier Municipal Income Fund has a 12 month low of $10.58 and a 12 month high of $11.76.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors 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 dividend yield of 4.9%.

Hedge Funds Weigh In On Federated Hermes Premier Municipal Income Fund

A number of institutional investors have recently bought and sold shares of the company. Pathstone Holdings LLC increased its holdings in shares of Federated Hermes Premier Municipal Income Fund by 30.8% during the 3rd quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after buying an additional 80,046 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 28.1% in the fourth quarter. Guggenheim Capital LLC now owns 286,092 shares of the company’s stock valued at $3,178,000 after acquiring an additional 62,843 shares during the last quarter. Rivernorth Capital Management LLC grew its position in Federated Hermes Premier Municipal Income Fund by 0.7% in 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 during the period. Riverbridge Partners LLC grew its position in Federated Hermes Premier Municipal Income Fund by 12.1% in the first quarter. Riverbridge Partners LLC now owns 140,894 shares of the company’s stock worth $1,540,000 after acquiring an additional 15,195 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Federated Hermes Premier Municipal Income Fund by 7.0% during the 1st quarter. Bank of America Corp DE now owns 133,861 shares of the company’s stock worth $1,463,000 after purchasing an additional 8,804 shares during the period.

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.