Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Sees Significant Decline in Short Interest

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 15,329 shares, a decrease of 44.7% from the August 31st total of 27,722 shares. Based on an average trading volume of 24,694 shares, the short-interest ratio is currently 0.6 days.

Federated Hermes Premier Municipal Income Fund Price Performance

Federated Hermes Premier Municipal Income Fund stock remained flat at $9.83 during midday trading on Wednesday. The company’s stock had a trading volume of 138,378 shares, compared to its average volume of 25,829. Federated Hermes Premier Municipal Income Fund has a 1 year low of $9.77 and a 1 year high of $11.76. The firm’s 50 day moving average is $10.83 and its 200-day moving average is $11.07.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.0450 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.54 annualized dividend and a dividend yield of 5.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in Federated Hermes Premier Municipal Income Fund in the 2nd quarter valued at approximately $41,000. Susquehanna International Group LLP acquired a new position in Federated Hermes Premier Municipal Income Fund in the 2nd quarter valued at approximately $213,000. Rivernorth Capital Management LLC raised its stake in shares of Federated Hermes Premier Municipal Income Fund by 0.7% during the second quarter. Rivernorth Capital Management LLC now owns 147,928 shares of the company’s stock valued at $1,700,000 after acquiring an additional 1,001 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Federated Hermes Premier Municipal Income Fund during the second quarter worth $1,116,000. Finally, North Ground Capital bought a new stake in shares of Federated Hermes Premier Municipal Income Fund in the second quarter worth $181,749.

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 that is exempt from regular federal income tax. The fund pursues its objective primarily by investing in a portfolio of municipal securities issued by states, municipalities and other governmental entities in the United States.

The fund’s investments may include general obligation bonds, revenue bonds and other fixed-income securities used to finance public projects and services.