Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Trading Up 0.1% – Should You Buy?

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

Federated Hermes Premier Municipal Income Fund Price Performance

The firm has a 50-day moving average of $11.13 and a 200-day moving average of $10.98.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Federated Hermes Premier Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the business. Pathstone Holdings LLC lifted its stake in 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 valued at $3,752,000 after acquiring an additional 80,046 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Federated Hermes Premier Municipal Income Fund by 33.1% during the second quarter. Guggenheim Capital LLC now owns 275,617 shares of the company’s stock valued at $2,933,000 after purchasing an additional 68,566 shares during the last quarter. City of London Investment Management Co. Ltd. lifted its position in Federated Hermes Premier Municipal Income Fund by 105.0% during the third quarter. City of London Investment Management Co. Ltd. now owns 71,605 shares of the company’s stock valued at $791,000 after purchasing an additional 36,680 shares during the period. Riverbridge Partners LLC boosted its holdings in Federated Hermes Premier Municipal Income Fund by 34.8% in the fourth quarter. Riverbridge Partners LLC now owns 125,699 shares of the company’s stock worth $1,397,000 after purchasing an additional 32,478 shares during the last quarter. Finally, Alpine Global Management LLC bought a new stake in Federated Hermes Premier Municipal Income Fund in the 3rd quarter worth approximately $200,000.

About Federated Hermes Premier Municipal Income Fund

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.