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

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

Insider Buying and Selling

In other Federated Hermes Premier Municipal Income Fund news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.67, for a total transaction of $6,630,502.41. Following the completion of the sale, the insider now directly owns 1,111,886 shares in the company, valued at approximately $14,087,595.62. This trade represents a 32.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 524,791 shares of company stock valued at $6,649,002 in the last three months.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

Several large investors have recently made changes to their positions in the company. City of London Investment Management Co. Ltd. grew 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 buying an additional 9,572 shares during the period. Whitebox Advisors LLC lifted its position in shares of Federated Hermes Premier Municipal Income Fund by 142.7% during the 2nd quarter. Whitebox Advisors LLC now owns 95,981 shares of the company’s stock worth $1,097,000 after buying an additional 56,431 shares in the last quarter. Quarry LP bought a new position in shares of Federated Hermes Premier Municipal Income Fund during the 3rd quarter worth approximately $976,000. Bank of New York Mellon Corp raised its holdings 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 worth $445,000 after purchasing an additional 19,477 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings 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 worth $400,000 after purchasing an additional 1,013 shares during the period.

Federated Hermes Premier Municipal Income Fund Stock Performance

Shares of FMN traded down $0.09 during trading hours on Friday, hitting $11.29. The stock had a trading volume of 22,623 shares, compared to its average volume of 32,378. The firm has a 50 day simple moving average of $11.58 and a 200-day simple moving average of $11.67. Federated Hermes Premier Municipal Income Fund has a 1-year low of $10.72 and a 1-year high of $12.53.

Federated Hermes Premier Municipal Income Fund Announces Dividend

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

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.