Federated Hermes Premier Municipal Income Fund (NYSE:FMN – Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 9,857 shares, a decline of 44.0% from the September 30th total of 17,597 shares. Based on an average trading volume of 67,017 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the first quarter worth about $30,000. Integrated Wealth Concepts LLC purchased a new position in shares of Federated Hermes Premier Municipal Income Fund during the second quarter valued at approximately $41,000. North Ground Capital purchased a new position in shares of Federated Hermes Premier Municipal Income Fund during the second quarter valued at approximately $181,749. Susquehanna International Group LLP acquired a new stake in Federated Hermes Premier Municipal Income Fund during the second quarter worth approximately $213,000. Finally, Capital Investment Advisors LLC boosted its position in Federated Hermes Premier Municipal Income Fund by 7.0% during the third quarter. Capital Investment Advisors LLC now owns 26,489 shares of the company’s stock worth $261,000 after acquiring an additional 1,726 shares during the last quarter.
Federated Hermes Premier Municipal Income Fund Stock Up 0.1%
Shares of FMN traded up $0.01 during trading hours on Monday, reaching $10.51. 23,473 shares of the company traded hands, compared to its average volume of 28,217. Federated Hermes Premier Municipal Income Fund has a fifty-two week low of $9.77 and a fifty-two week high of $11.76. The stock has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $11.00.
Federated Hermes Premier Municipal Income Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 23rd will be paid a $0.0450 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.54 annualized dividend and a yield of 5.1%.
About Federated Hermes Premier Municipal Income Fund
Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a closed-end investment fund managed by Federated Hermes. The fund seeks to provide a high level of current income that is exempt from regular federal income tax by investing primarily in municipal securities.
The fund’s portfolio may include bonds and other debt obligations issued by states, municipalities, public authorities and other governmental entities. These securities generally finance public projects and services such as schools, transportation systems, utilities, healthcare facilities and other infrastructure.
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