Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Grows By 96.0%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 59,313 shares, a growth of 96.0% from the July 15th total of 30,266 shares. Based on an average daily trading volume, of 23,355 shares, the short-interest ratio is presently 2.5 days.

Federated Hermes Premier Municipal Income Fund Trading Down 0.0%

NYSE FMN traded down $0.00 on Friday, hitting $11.19. The company’s stock had a trading volume of 32,345 shares, compared to its average volume of 24,798. Federated Hermes Premier Municipal Income Fund has a 52-week low of $10.56 and a 52-week high of $11.76. The company’s 50-day simple moving average is $11.27 and its 200 day simple moving average is $11.20.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 21st will be issued a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, August 21st.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC lifted its position in shares of Federated Hermes Premier Municipal Income Fund by 30.8% in the 3rd quarter. Pathstone Holdings LLC now owns 339,848 shares of the company’s stock worth $3,752,000 after purchasing an additional 80,046 shares during the period. Guggenheim Capital LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 28.1% in the fourth quarter. Guggenheim Capital LLC now owns 286,092 shares of the company’s stock worth $3,178,000 after buying an additional 62,843 shares during the period. Rivernorth Capital Management LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 484.2% in the first quarter. Rivernorth Capital Management LLC now owns 146,927 shares of the company’s stock worth $1,606,000 after buying an additional 121,777 shares during the period. Riverbridge Partners LLC boosted its position in Federated Hermes Premier Municipal Income Fund by 12.1% during the 1st quarter. Riverbridge Partners LLC now owns 140,894 shares of the company’s stock valued at $1,540,000 after acquiring an additional 15,195 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 7.0% in the 1st quarter. Bank of America Corp DE now owns 133,861 shares of the company’s stock valued at $1,463,000 after purchasing an additional 8,804 shares during the period.

About Federated Hermes Premier Municipal Income Fund

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.