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

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 11,173 shares, a drop of 48.1% from the December 15th total of 21,527 shares. Based on an average daily volume of 35,169 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 35,169 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Matisse Capital purchased a new position in Federated Hermes Premier Municipal Income Fund in the 2nd quarter worth approximately $1,371,000. Pathstone Holdings LLC boosted its stake in shares of Federated Hermes Premier Municipal Income Fund by 30.8% in the third quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock valued at $3,752,000 after purchasing an additional 80,046 shares during the period. Guggenheim Capital LLC lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 33.1% in the second quarter. Guggenheim Capital LLC now owns 275,617 shares of the company’s stock worth $2,933,000 after acquiring an additional 68,566 shares in the last quarter. City of London Investment Management Co. Ltd. raised its position in shares of Federated Hermes Premier Municipal Income Fund by 105.0% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 71,605 shares of the company’s stock valued at $791,000 after purchasing an additional 36,680 shares in the last quarter. Finally, Riverbridge Partners LLC boosted its stake in shares of Federated Hermes Premier Municipal Income Fund by 34.8% during the 4th quarter. Riverbridge Partners LLC now owns 125,699 shares of the company’s stock valued at $1,397,000 after buying an additional 32,478 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Price Performance

Federated Hermes Premier Municipal Income Fund stock traded down $0.01 during midday trading on Friday, reaching $11.21. The stock had a trading volume of 20,019 shares, compared to its average volume of 28,847. The stock’s 50-day simple moving average is $11.13 and its 200 day simple moving average is $10.93. Federated Hermes Premier Municipal Income Fund has a twelve month low of $10.11 and a twelve month high of $11.38.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd will be 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 of this dividend is Friday, January 23rd.

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.