Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Significant Drop in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 12,284 shares, a drop of 36.7% from the May 31st total of 19,399 shares. Based on an average daily trading volume, of 18,716 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several large investors have recently made changes to their positions in FMN. Pathstone Holdings LLC boosted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 30.8% in 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 increased its holdings in Federated Hermes Premier Municipal Income Fund by 28.1% during the fourth quarter. Guggenheim Capital LLC now owns 286,092 shares of the company’s stock worth $3,178,000 after buying an additional 62,843 shares during the last quarter. Rivernorth Capital Management LLC raised its position in Federated Hermes Premier Municipal Income Fund by 484.2% in the first quarter. Rivernorth Capital Management LLC now owns 146,927 shares of the company’s stock worth $1,606,000 after acquiring an additional 121,777 shares during the period. Riverbridge Partners LLC boosted its stake 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 valued at $1,540,000 after acquiring an additional 15,195 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Federated Hermes Premier Municipal Income Fund by 7.0% in the first quarter. Bank of America Corp DE now owns 133,861 shares of the company’s stock valued at $1,463,000 after acquiring an additional 8,804 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Price Performance

FMN stock opened at $11.44 on Friday. The business has a 50 day moving average of $11.25 and a 200-day moving average of $11.18. Federated Hermes Premier Municipal Income Fund has a 12-month low of $10.40 and a 12-month high of $11.76.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Tuesday, June 23rd were given a $0.045 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 4.7%.

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.