Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Update

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 16,900 shares, a growth of 138.0% from the November 15th total of 7,100 shares. Based on an average daily volume of 47,100 shares, the days-to-cover ratio is currently 0.4 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $12.67, for a total value of $6,630,502.41. Following the transaction, the insider now owns 1,111,886 shares of the company’s stock, valued at approximately $14,087,595.62. This represents a 32.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 524,791 shares of company stock valued at $6,649,002.

Institutional Investors Weigh In On Federated Hermes Premier Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 5.3% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 190,300 shares of the company’s stock valued at $2,175,000 after acquiring an additional 9,572 shares during the last quarter. Whitebox Advisors LLC lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 142.7% in the 2nd quarter. Whitebox Advisors LLC now owns 95,981 shares of the company’s stock valued at $1,097,000 after acquiring an additional 56,431 shares during the last quarter. Quarry LP bought a new position in shares of Federated Hermes Premier Municipal Income Fund in the 3rd quarter valued at $976,000. Bank of New York Mellon Corp lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 100.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 38,925 shares of the company’s stock valued at $445,000 after acquiring an additional 19,477 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in shares of Federated Hermes Premier Municipal Income Fund by 3.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 32,213 shares of the company’s stock valued at $400,000 after acquiring an additional 1,013 shares during the last quarter.

Federated Hermes Premier Municipal Income Fund Trading Down 0.8 %

NYSE:FMN traded down $0.09 during trading hours on Friday, reaching $11.29. 22,623 shares of the company were exchanged, compared to its average volume of 32,378. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.72 and a 1-year high of $12.53. The business has a 50 day moving average of $11.58 and a 200 day moving average of $11.67.

Federated Hermes Premier Municipal Income Fund Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.04 per share. This represents a yield of 4%. The ex-dividend date is Monday, December 23rd.

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.