Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Up 113.7% in June

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 26,254 shares, a growth of 113.7% from the June 15th total of 12,284 shares. Based on an average trading volume of 24,794 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMN. Raymond James Financial Inc. boosted its position in Federated Hermes Premier Municipal Income Fund by 10.2% during the second quarter. Raymond James Financial Inc. now owns 89,524 shares of the company’s stock valued at $953,000 after purchasing an additional 8,251 shares during the last quarter. 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 valued at $3,752,000 after buying an additional 80,046 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 3rd quarter valued at approximately $173,000. Alpine Global Management LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund in the third quarter valued at $200,000. Finally, Noble Wealth Management PBC grew its stake in shares of Federated Hermes Premier Municipal Income Fund by 5.7% in the fourth quarter. Noble Wealth Management PBC now owns 37,750 shares of the company’s stock valued at $419,000 after buying an additional 2,050 shares in the last quarter.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of FMN traded down $0.01 during mid-day trading on Wednesday, hitting $11.39. 12,856 shares of the company’s stock were exchanged, compared to its average volume of 24,908. Federated Hermes Premier Municipal Income Fund has a 52 week low of $10.40 and a 52 week high of $11.76. The company has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $11.20.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be issued a dividend of $0.045 per share. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a yield of 4.7%.

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.