Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Large Increase in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,100 shares, a growth of 51.3% from the December 15th total of 8,000 shares. Based on an average daily trading volume, of 44,000 shares, the short-interest ratio is currently 0.3 days.

Federated Hermes Premier Municipal Income Fund Price Performance

NYSE FMN traded up $0.03 during trading on Friday, reaching $11.11. The company’s stock had a trading volume of 16,733 shares, compared to its average volume of 52,839. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.74 and a 1-year high of $12.53. The business has a 50-day moving average price of $11.13 and a 200-day moving average price of $11.61.

Federated Hermes Premier Municipal Income Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Thursday, January 23rd. This is a positive change from Federated Hermes Premier Municipal Income Fund’s previous monthly dividend of $0.04.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

A number of large investors have recently bought and sold shares of FMN. Capital Investment Advisors LLC boosted its stake in shares of Federated Hermes Premier Municipal Income Fund by 3.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 32,213 shares of the company’s stock worth $400,000 after acquiring an additional 1,013 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 50.1% in the 3rd quarter. Avior Wealth Management LLC now owns 5,534 shares of the company’s stock worth $69,000 after purchasing an additional 1,847 shares during the last quarter. XML Financial LLC boosted its position in Federated Hermes Premier Municipal Income Fund by 11.2% during the third quarter. XML Financial LLC now owns 25,830 shares of the company’s stock worth $321,000 after purchasing an additional 2,600 shares during the period. Bank of New York Mellon Corp grew its holdings 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 valued at $445,000 after purchasing an additional 19,477 shares during the last quarter. Finally, Riverbridge Partners LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter valued at approximately $447,000.

Federated Hermes Premier Municipal Income Fund Company Profile

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.