Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Stock Short Interest Drops 44.0%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 9,857 shares, a decline of 44.0% from the September 30th total of 17,597 shares. Based on an average daily volume of 67,017 shares, the short-interest ratio is presently 0.1 days.

Federated Hermes Premier Municipal Income Fund Price Performance

NYSE:FMN traded up $0.04 during trading hours on Friday, reaching $10.51. 53,280 shares of the company traded hands, compared to its average volume of 28,240. The firm’s 50-day moving average is $10.43 and its 200-day moving average is $11.01. Federated Hermes Premier Municipal Income Fund has a 1-year low of $9.77 and a 1-year 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 Monday, November 2nd. Stockholders of record on Friday, October 23rd will be given a $0.0450 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, October 23rd.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC purchased a new position in Federated Hermes Premier Municipal Income Fund in the 1st quarter valued at about $30,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the second quarter worth about $41,000. North Ground Capital purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the second quarter worth about $181,749. Susquehanna International Group LLP acquired a new position in shares of Federated Hermes Premier Municipal Income Fund in the second quarter valued at approximately $213,000. Finally, Capital Investment Advisors LLC raised its position in shares of Federated Hermes Premier Municipal Income Fund by 7.0% in the third quarter. Capital Investment Advisors LLC now owns 26,489 shares of the company’s stock valued at $261,000 after buying an additional 1,726 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Company Profile

Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a closed-end investment fund managed by Federated Hermes. The fund seeks to provide a high level of current income that is exempt from regular federal income tax by investing primarily in municipal securities.

The fund’s portfolio may include bonds and other debt obligations issued by states, municipalities, public authorities and other governmental entities. These securities generally finance public projects and services such as schools, transportation systems, utilities, healthcare facilities and other infrastructure.