Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Significant Growth in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 50,300 shares, a growth of 171.9% from the September 30th total of 18,500 shares. Based on an average daily volume of 46,700 shares, the short-interest ratio is presently 1.1 days.

Federated Hermes Premier Municipal Income Fund Stock Down 0.7 %

Federated Hermes Premier Municipal Income Fund stock opened at $11.40 on Monday. Federated Hermes Premier Municipal Income Fund has a 12-month low of $9.09 and a 12-month high of $12.53. The firm’s 50-day moving average is $12.18 and its two-hundred day moving average is $11.63.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Wednesday, October 23rd will be given a dividend of $0.038 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $0.46 dividend on an annualized basis and a yield of 4.00%.

Insider Buying and Selling

In other Federated Hermes Premier Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $12.67, for a total transaction of $6,630,502.41. Following the sale, the insider now owns 1,111,886 shares in the company, valued at approximately $14,087,595.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 524,791 shares of company stock worth $6,649,002 in the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Signature Estate & Investment Advisors LLC purchased a new position in shares of Federated Hermes Premier Municipal Income Fund during the 2nd quarter worth $149,000. Capital Investment Advisors LLC increased its stake in Federated Hermes Premier Municipal Income Fund by 3.2% in the third quarter. Capital Investment Advisors LLC now owns 32,213 shares of the company’s stock valued at $400,000 after purchasing an additional 1,013 shares during the last quarter. Whitebox Advisors LLC acquired a new position in Federated Hermes Premier Municipal Income Fund in the first quarter valued at $438,000. Bank of New York Mellon Corp lifted its position in Federated Hermes Premier Municipal Income Fund by 100.1% during the second quarter. Bank of New York Mellon Corp now owns 38,925 shares of the company’s stock worth $445,000 after buying an additional 19,477 shares during the period. Finally, Alpine Global Management LLC boosted 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 buying an additional 1,343 shares during the last quarter.

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.