Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Declines By 63.8%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 21,495 shares, a decrease of 63.8% from the July 30th total of 59,313 shares. Based on an average trading volume of 24,426 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds have recently modified their holdings of FMN. Scarborough Advisors LLC purchased a new position in Federated Hermes Premier Municipal Income Fund in the 1st quarter valued at $30,000. HighTower Advisors LLC purchased a new position in Federated Hermes Premier Municipal Income Fund during the 4th quarter worth $119,000. Jane Street Group LLC acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 4th quarter worth $120,000. Citadel Advisors LLC acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 3rd quarter worth $173,000. Finally, North Ground Capital purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund in the second quarter valued at about $181,749.

Federated Hermes Premier Municipal Income Fund Stock Performance

Federated Hermes Premier Municipal Income Fund stock remained flat at $11.07 during mid-day trading on Friday. The company’s stock had a trading volume of 15,498 shares, compared to its average volume of 24,275. Federated Hermes Premier Municipal Income Fund has a 52 week low of $10.58 and a 52 week high of $11.76. The stock has a fifty day moving average price of $11.23 and a 200-day moving average price of $11.19.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be paid a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, August 21st.

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.