Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Update

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

Federated Hermes Premier Municipal Income Fund Trading Up 1.0 %

Shares of FMN stock traded up $0.11 on Wednesday, hitting $11.29. The company’s stock had a trading volume of 24,004 shares, compared to its average volume of 31,817. Federated Hermes Premier Municipal Income Fund has a fifty-two week low of $10.20 and a fifty-two week high of $12.53. The stock’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 firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.038 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.04%.

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 transaction of $6,630,502.41. Following the completion of the sale, the insider now directly 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 legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 524,791 shares of company stock worth $6,649,002 over the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC grew its position in Federated Hermes Premier Municipal Income Fund by 50.1% during the third quarter. Avior Wealth Management LLC now owns 5,534 shares of the company’s stock worth $69,000 after buying an additional 1,847 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 2nd quarter valued at $149,000. XML Financial LLC grew its holdings in shares of 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 purchasing an additional 2,600 shares in the last quarter. Capital Investment Advisors LLC increased its position in shares of 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 worth $400,000 after purchasing an additional 1,013 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Federated Hermes Premier Municipal Income Fund by 100.1% in 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 in the last quarter.

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.