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 during the month of December. As of December 31st, there was short interest totalling 12,100 shares, an increase of 51.3% from the December 15th total of 8,000 shares. Based on an average trading volume of 44,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its stake 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 valued at $69,000 after acquiring an additional 1,847 shares during the period. 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% during the third quarter. Capital Investment Advisors LLC now owns 32,213 shares of the company’s stock valued at $400,000 after purchasing an additional 1,013 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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. Finally, Riverbridge Partners LLC acquired a new position in shares of Federated Hermes Premier Municipal Income Fund in the fourth quarter valued at $447,000.

Federated Hermes Premier Municipal Income Fund Trading Up 0.3 %

FMN stock traded up $0.03 on Friday, reaching $11.11. 16,733 shares of the company were exchanged, compared to its average volume of 52,839. Federated Hermes Premier Municipal Income Fund has a 12 month low of $10.74 and a 12 month high of $12.53. The stock’s fifty day moving average price is $11.13 and its 200 day moving average price is $11.61.

Federated Hermes Premier Municipal Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.04 per share. This is an increase from Federated Hermes Premier Municipal Income Fund’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.48 annualized dividend and a dividend yield of 4.32%.

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.