Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Large 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 June. As of June 30th, there was short interest totaling 26,254 shares, a growth of 113.7% from the June 15th total of 12,284 shares. Based on an average daily volume of 24,794 shares, the days-to-cover ratio is currently 1.1 days.

Federated Hermes Premier Municipal Income Fund Trading Down 0.0%

FMN opened at $11.37 on Friday. The business’s 50-day moving average is $11.29 and its two-hundred day moving average is $11.20. Federated Hermes Premier Municipal Income Fund has a 1 year low of $10.40 and a 1 year high of $11.76.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be given a $0.045 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Federated Hermes Premier Municipal Income Fund in the first quarter valued at approximately $30,000. Camelot Portfolios LLC acquired a new position in shares of Federated Hermes Premier Municipal Income Fund during the fourth quarter worth $72,000. HighTower Advisors LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at $119,000. Jane Street Group LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at $120,000. Finally, Savvy Advisors Inc. purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at $143,000.

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.