Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Drops By 70.5%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 7,100 shares, a drop of 70.5% from the October 31st total of 24,100 shares. Based on an average daily trading volume, of 50,300 shares, the days-to-cover ratio is presently 0.1 days.

Insider Buying and Selling at Federated Hermes Premier Municipal Income Fund

In other Federated Hermes Premier Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $12.67, for a total value of $6,630,502.41. Following the sale, the insider now owns 1,111,886 shares in the company, valued at $14,087,595.62. This trade represents a 32.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 524,791 shares of company stock worth $6,649,002 over the last 90 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC increased its stake in shares of Federated Hermes Premier Municipal Income Fund by 50.1% in the third quarter. Avior Wealth Management LLC now owns 5,534 shares of the company’s stock valued at $69,000 after buying an additional 1,847 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in Federated Hermes Premier Municipal Income Fund during the 2nd quarter worth approximately $149,000. XML Financial LLC grew its holdings in Federated Hermes Premier Municipal Income Fund by 11.2% during the 3rd quarter. XML Financial LLC now owns 25,830 shares of the company’s stock worth $321,000 after acquiring an additional 2,600 shares during the last quarter. Capital Investment Advisors LLC increased its position in Federated Hermes Premier Municipal Income Fund by 3.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 32,213 shares of the company’s stock valued at $400,000 after acquiring an additional 1,013 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 acquiring an additional 19,477 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Stock Up 1.0 %

Shares of NYSE:FMN traded up $0.11 during trading on Wednesday, hitting $11.29. 24,004 shares of the company were exchanged, compared to its average volume of 31,817. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.20 and a 1-year high of $12.53. The business’s 50 day moving average is $11.80 and its 200-day moving average is $11.66.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be issued a $0.038 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.46 dividend on an annualized basis and a yield of 4.04%.

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.