Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Trading 0.1% Higher – Here’s Why

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

Federated Hermes Premier Municipal Income Fund Trading Up 0.2%

The company’s 50-day moving average is $11.13 and its 200-day moving average is $10.99.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Savvy Advisors Inc. bought a new position in Federated Hermes Premier Municipal Income Fund in the 4th quarter valued at approximately $143,000. Citadel Advisors LLC acquired a new position in shares of Federated Hermes Premier Municipal Income Fund during the third quarter worth $173,000. Pathstone Holdings LLC lifted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 30.8% during the third quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after purchasing an additional 80,046 shares during the period. Raymond James Financial Inc. grew its stake in shares of Federated Hermes Premier Municipal Income Fund by 10.2% in the second quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock worth $953,000 after purchasing an additional 8,251 shares during the last quarter. Finally, Melfa Wealth Management Inc. increased its holdings in Federated Hermes Premier Municipal Income Fund by 19.1% in the fourth quarter. Melfa Wealth Management Inc. now owns 31,121 shares of the company’s stock valued at $346,000 after purchasing an additional 5,000 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.