Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Shares Up 0.1% – Should You Buy?

Federated Hermes Premier Municipal Income Fund (NYSE:FMN)’s share price rose 0.1% during trading on Thursday . The stock traded as high as $11.27 and last traded at $11.26. Approximately 50,294 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 29,737 shares. The stock had previously closed at $11.25.

Federated Hermes Premier Municipal Income Fund Price Performance

The company has a 50 day simple moving average of $11.13 and a 200-day simple moving average of $10.98.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd were given a $0.045 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a c) annualized dividend and a dividend yield of 4.8%.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in FMN. Camelot Portfolios LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund during the fourth quarter valued at about $72,000. Savvy Advisors Inc. purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at $143,000. Melfa Wealth Management Inc. lifted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 19.1% during the 4th 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 last quarter. Riverbridge Partners LLC grew its position in Federated Hermes Premier Municipal Income Fund by 34.8% in the fourth quarter. Riverbridge Partners LLC now owns 125,699 shares of the company’s stock worth $1,397,000 after acquiring an additional 32,478 shares in the last quarter. Finally, Noble Wealth Management PBC increased 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 acquiring an additional 2,050 shares during the last quarter.

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.