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 growth in short interest in April. As of April 15th, there was short interest totalling 17,800 shares, a growth of 57.5% from the March 31st total of 11,300 shares. Based on an average daily trading volume, of 19,800 shares, the short-interest ratio is currently 0.9 days.

Federated Hermes Premier Municipal Income Fund Price Performance

Shares of NYSE FMN opened at $11.01 on Friday. Federated Hermes Premier Municipal Income Fund has a 1 year low of $9.09 and a 1 year high of $11.31. The firm has a 50 day simple moving average of $11.06.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.035 per share. The ex-dividend date is Monday, April 22nd. This represents a $0.42 dividend on an annualized basis and a dividend yield of 3.81%.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 2,449 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $11.15 per share, with a total value of $27,306.35. Following the completion of the acquisition, the insider now owns 1,608,859 shares of the company’s stock, valued at $17,938,777.85. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought 42,172 shares of company stock worth $467,992 over the last ninety days.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisors LLC grew its stake in shares of Federated Hermes Premier Municipal Income Fund by 5.3% in the fourth quarter. Capital Investment Advisors LLC now owns 31,500 shares of the company’s stock worth $346,000 after acquiring an additional 1,575 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in Federated Hermes Premier Municipal Income Fund by 86.9% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 9,108 shares of the company’s stock worth $101,000 after buying an additional 4,236 shares in the last quarter. Robinson Capital Management LLC raised its position in Federated Hermes Premier Municipal Income Fund by 4.4% in the 3rd quarter. Robinson Capital Management LLC now owns 204,402 shares of the company’s stock worth $1,975,000 after buying an additional 8,627 shares during the last quarter. Fisher Asset Management LLC bought a new position in Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at about $239,000. Finally, Sar Wealth Management Group LLC purchased a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 4th quarter valued at about $278,000.

About Federated Hermes Premier Municipal Income Fund

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.