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

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 21,495 shares, a drop of 63.8% from the July 30th total of 59,313 shares. Based on an average trading volume of 24,426 shares, the short-interest ratio is currently 0.9 days.

Federated Hermes Premier Municipal Income Fund Price Performance

FMN remained flat at $11.07 on Friday. The company had a trading volume of 15,498 shares, compared to its average volume of 24,275. The business has a fifty day simple moving average of $11.23 and a 200 day simple moving average of $11.19. Federated Hermes Premier Municipal Income Fund has a 52-week low of $10.58 and a 52-week high of $11.76.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be given a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, August 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FMN. Rivernorth Capital Management LLC raised its stake in Federated Hermes Premier Municipal Income Fund by 484.2% during the 1st 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 in the last quarter. Bank of America Corp DE acquired a new position in Federated Hermes Premier Municipal Income Fund in the second quarter valued at $1,116,000. Bank of New York Mellon Corp grew its holdings in shares of Federated Hermes Premier Municipal Income Fund by 601.0% during the first quarter. Bank of New York Mellon Corp now owns 101,531 shares of the company’s stock worth $1,110,000 after purchasing an additional 87,048 shares during the last quarter. Pathstone Holdings LLC grew 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Federated Hermes Premier Municipal Income Fund during the second quarter worth about $840,000.

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.