Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Update

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 54,000 shares, a drop of 7.1% from the May 31st total of 58,100 shares. Based on an average daily trading volume, of 24,800 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. City of London Investment Management Co. Ltd. raised its stake in Federated Hermes Premier Municipal Income Fund by 32.9% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 240,342 shares of the company’s stock worth $2,641,000 after purchasing an additional 59,468 shares in the last quarter. Alpine Global Management LLC raised its stake in Federated Hermes Premier Municipal Income Fund by 1.1% in the 1st quarter. Alpine Global Management LLC now owns 118,797 shares of the company’s stock worth $1,315,000 after purchasing an additional 1,343 shares in the last quarter. Whitebox Advisors LLC acquired a new stake in Federated Hermes Premier Municipal Income Fund in the 1st quarter worth about $438,000. Capital Investment Advisors LLC raised its stake in Federated Hermes Premier Municipal Income Fund by 5.3% in the 4th quarter. Capital Investment Advisors LLC now owns 31,500 shares of the company’s stock worth $346,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Sar Wealth Management Group LLC acquired a new position in shares of Federated Hermes Premier Municipal Income Fund in the 4th quarter valued at approximately $278,000.

Federated Hermes Premier Municipal Income Fund Stock Performance

NYSE FMN opened at $11.41 on Thursday. The firm has a 50-day moving average of $11.26 and a 200-day moving average of $11.12. Federated Hermes Premier Municipal Income Fund has a 52-week low of $9.09 and a 52-week high of $11.70.

Federated Hermes Premier Municipal Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 21st were paid a $0.038 dividend. This is a boost from Federated Hermes Premier Municipal Income Fund’s previous monthly dividend of $0.04. The ex-dividend date of this dividend was Friday, June 21st. This represents a $0.46 annualized dividend and a yield of 4.00%.

About Federated Hermes Premier Municipal Income Fund

Federated Premier Municipal Income Fund is a closed-ended fixed income mutual fund launched by Federated Investors, Inc The fund is managed by Federated Investment Management Company. It invests in fixed income markets of United States. The fund primarily invests in tax-exempt municipal bonds of GO state, GO local, special tax, hospital, transportation, pre-refunded, senior care, water and sewer, education, electric and gas, and public power sectors.