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

Federated Hermes Premier Municipal Income Fund (NYSE:FMNGet Free Report) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 34,900 shares, a decline of 42.4% from the January 15th total of 60,600 shares. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is currently 1.0 days.

Federated Hermes Premier Municipal Income Fund Trading Up 0.1 %

FMN traded up $0.01 during trading on Monday, reaching $11.26. 10,694 shares of the stock were exchanged, compared to its average volume of 24,169. Federated Hermes Premier Municipal Income Fund has a twelve month low of $9.09 and a twelve month high of $11.30. The business’s 50 day moving average price is $10.94.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, February 1st. Investors of record on Tuesday, January 23rd were paid a $0.035 dividend. The ex-dividend date of this dividend was Monday, January 22nd. This represents a $0.42 dividend on an annualized basis and a yield of 3.73%.

Insider Buying and Selling at Federated Hermes Premier Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 11,190 shares of Federated Hermes Premier Municipal Income Fund stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $9.98 per share, with a total value of $111,676.20. Following the completion of the transaction, the insider now directly owns 1,181,074 shares of the company’s stock, valued at $11,787,118.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have purchased 154,223 shares of company stock valued at $1,608,572.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sar Wealth Management Group LLC acquired a new position in Federated Hermes Premier Municipal Income Fund in the fourth quarter valued at about $278,000. City of London Investment Management Co. Ltd. raised its position in shares of Federated Hermes Premier Municipal Income Fund by 32.9% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 240,342 shares of the company’s stock valued at $2,641,000 after buying an additional 59,468 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter worth approximately $239,000. Blue Bell Private Wealth Management LLC acquired a new position in Federated Hermes Premier Municipal Income Fund during the fourth quarter valued at approximately $54,000. Finally, Capital Investment Advisors LLC raised its position in Federated Hermes Premier Municipal Income Fund by 5.3% during the fourth quarter. Capital Investment Advisors LLC now owns 31,500 shares of the company’s stock valued at $346,000 after purchasing an additional 1,575 shares in the last quarter.

About Federated Hermes Premier Municipal Income Fund

(Get Free Report)

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.

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