Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Down 36.7% in June

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 12,284 shares, a decline of 36.7% from the May 31st total of 19,399 shares. Based on an average daily volume of 18,716 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Noble Wealth Management PBC lifted its stake in 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. Scarborough Advisors LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund during the first quarter worth $30,000. North Ground Capital increased its position in shares of Federated Hermes Premier Municipal Income Fund by 11.8% during the fourth quarter. North Ground Capital now owns 38,429 shares of the company’s stock worth $427,000 after acquiring an additional 4,058 shares in the last quarter. Melfa Wealth Management Inc. raised its holdings in shares of Federated Hermes Premier Municipal Income Fund by 19.1% during the fourth quarter. Melfa Wealth Management Inc. now owns 31,121 shares of the company’s stock worth $346,000 after acquiring an additional 5,000 shares during the period. Finally, Camelot Portfolios LLC bought a new stake in Federated Hermes Premier Municipal Income Fund in the 4th quarter valued at $72,000.

Federated Hermes Premier Municipal Income Fund Stock Performance

NYSE FMN remained flat at $11.44 on Friday. The company had a trading volume of 32,601 shares, compared to its average volume of 24,779. Federated Hermes Premier Municipal Income Fund has a fifty-two week low of $10.40 and a fifty-two week high of $11.76. The company has a 50 day moving average of $11.25 and a 200 day moving average of $11.18.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, July 1st. Investors of record on Tuesday, June 23rd were given a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Tuesday, June 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.