Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Update

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 17,800 shares, an increase of 57.5% from the March 31st total of 11,300 shares. Based on an average trading volume of 19,800 shares, the short-interest ratio is presently 0.9 days.

Insider Activity at Federated Hermes Premier Municipal Income Fund

In other Federated Hermes Premier Municipal Income Fund news, major shareholder Saba Capital Management, L.P. bought 2,449 shares of Federated Hermes Premier Municipal Income Fund stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $11.15 per share, with a total value of $27,306.35. Following the completion of the acquisition, the insider now owns 1,608,859 shares of the company’s stock, valued at $17,938,777.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 42,172 shares of company stock valued at $467,992 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. City of London Investment Management Co. Ltd. grew its position in shares of Federated Hermes Premier Municipal Income Fund by 31.7% in the third quarter. City of London Investment Management Co. Ltd. now owns 180,874 shares of the company’s stock valued at $1,733,000 after purchasing an additional 43,535 shares during the last quarter. Robinson Capital Management LLC grew its position in shares of Federated Hermes Premier Municipal Income Fund by 4.4% in the third quarter. Robinson Capital Management LLC now owns 204,402 shares of the company’s stock valued at $1,975,000 after purchasing an additional 8,627 shares during the last quarter. Alpine Global Management LLC grew its position in shares of Federated Hermes Premier Municipal Income Fund by 79.2% in the third quarter. Alpine Global Management LLC now owns 78,312 shares of the company’s stock valued at $750,000 after purchasing an additional 34,600 shares during the last quarter. Saba Capital Management L.P. grew its position in shares of Federated Hermes Premier Municipal Income Fund by 64.7% in the third quarter. Saba Capital Management L.P. now owns 1,137,404 shares of the company’s stock valued at $10,896,000 after purchasing an additional 446,787 shares during the last quarter. Finally, AQR Arbitrage LLC grew its position in shares of Federated Hermes Premier Municipal Income Fund by 37.2% in the third quarter. AQR Arbitrage LLC now owns 142,750 shares of the company’s stock valued at $1,368,000 after purchasing an additional 38,712 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Trading Up 0.2 %

Shares of Federated Hermes Premier Municipal Income Fund stock opened at $11.01 on Friday. Federated Hermes Premier Municipal Income Fund has a 52-week low of $9.09 and a 52-week high of $11.31. The business’s 50-day moving average price is $11.06.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 23rd will be given a dividend of $0.035 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.42 annualized dividend and a yield of 3.81%.

About Federated Hermes Premier Municipal Income Fund

Federated Premier Municipal Income Fund is a closed-ended fixed income mutual fund launched by Federated Investors, Inc The fund is managed by Federated Investment Management Company. It invests in fixed income markets of United States. The fund primarily invests in tax-exempt municipal bonds of GO state, GO local, special tax, hospital, transportation, pre-refunded, senior care, water and sewer, education, electric and gas, and public power sectors.