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

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 13,100 shares, an increase of 31.0% from the February 13th total of 10,000 shares. Based on an average trading volume of 37,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Robinson Capital Management LLC purchased a new position in Federated Hermes Premier Municipal Income Fund during the fourth quarter valued at $959,000. Quarry LP purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund in the third quarter worth about $976,000. Raymond James Financial Inc. bought a new stake in Federated Hermes Premier Municipal Income Fund in the 4th quarter worth approximately $778,000. Whitebox Advisors LLC purchased a new position in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter valued at $507,000. Finally, Riverbridge Partners LLC bought a new stake in Federated Hermes Premier Municipal Income Fund in the fourth quarter worth $447,000.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of Federated Hermes Premier Municipal Income Fund stock traded up $0.03 during trading hours on Tuesday, hitting $10.88. The company’s stock had a trading volume of 34,723 shares, compared to its average volume of 36,113. Federated Hermes Premier Municipal Income Fund has a 12-month low of $10.78 and a 12-month high of $12.53. The business has a 50 day moving average price of $11.09 and a two-hundred day moving average price of $11.47.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 21st will be paid a $0.04 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.48 annualized dividend and a yield of 4.41%.

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.