Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Up 164.9% in January

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 9,850 shares, a growth of 164.9% from the January 15th total of 3,719 shares. Based on an average daily trading volume, of 28,278 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 28,278 shares, the days-to-cover ratio is currently 0.3 days.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of FMN traded down $0.01 during midday trading on Thursday, reaching $11.33. The stock had a trading volume of 10,465 shares, compared to its average volume of 29,613. Federated Hermes Premier Municipal Income Fund has a 12-month low of $10.11 and a 12-month high of $11.38. The company’s 50-day moving average is $11.15 and its 200 day moving average is $11.01.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 23rd will be given a dividend of $0.045 per share. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, February 23rd.

Hedge Funds Weigh In On Federated Hermes Premier Municipal Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pathstone Holdings LLC boosted its position in shares of Federated Hermes Premier Municipal Income Fund by 30.8% during the third quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after acquiring an additional 80,046 shares during the last quarter. Guggenheim Capital LLC increased its holdings 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 purchasing an additional 68,566 shares during the last quarter. City of London Investment Management Co. Ltd. lifted its position in shares of Federated Hermes Premier Municipal Income Fund by 105.0% in the third quarter. City of London Investment Management Co. Ltd. now owns 71,605 shares of the company’s stock worth $791,000 after buying an additional 36,680 shares in the last quarter. Riverbridge Partners LLC boosted its stake in Federated Hermes Premier Municipal Income Fund by 34.8% during the fourth 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. Finally, Closed End Fund Advisors Inc. purchased a new position in Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at approximately $288,000.

Federated Hermes Premier Municipal Income Fund Company Profile

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.