Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Shares Shorted: Short Interest Down 44.0% in October

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw 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 trading volume of 67,017 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMN. Rivernorth Capital Management LLC increased its stake in shares of Federated Hermes Premier Municipal Income Fund by 0.7% during the 2nd quarter. Rivernorth Capital Management LLC now owns 147,928 shares of the company’s stock valued at $1,700,000 after acquiring an additional 1,001 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Federated Hermes Premier Municipal Income Fund by 7.0% in the first quarter. Bank of America Corp DE now owns 133,861 shares of the company’s stock worth $1,463,000 after acquiring an additional 8,804 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Federated Hermes Premier Municipal Income Fund by 601.0% in the first quarter. Bank of New York Mellon Corp now owns 101,531 shares of the company’s stock worth $1,110,000 after acquiring an additional 87,048 shares during the last quarter. B.A. Schrock Wealth Management Inc. purchased a new stake in Federated Hermes Premier Municipal Income Fund in the third quarter valued at approximately $897,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Federated Hermes Premier Municipal Income Fund in the second quarter valued at approximately $840,000.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of FMN stock traded up $0.04 during mid-day trading on Friday, hitting $10.51. 53,280 shares of the company’s stock were exchanged, compared to its average volume of 28,240. Federated Hermes Premier Municipal Income Fund has a fifty-two week low of $9.77 and a fifty-two week high of $11.76. The stock has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $11.01.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 23rd will be given a dividend of $0.0450 per share. The ex-dividend date is Friday, October 23rd. This represents a $0.54 annualized dividend and a yield of 5.1%.

About Federated Hermes Premier Municipal Income Fund

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.