Short Interest in Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Declines By 52.7%

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 8,000 shares, a drop of 52.7% from the November 30th total of 16,900 shares. Based on an average daily volume of 42,300 shares, the days-to-cover ratio is currently 0.2 days.

Federated Hermes Premier Municipal Income Fund Stock Down 0.2 %

FMN stock traded down $0.02 during midday trading on Friday, hitting $10.89. The company’s stock had a trading volume of 10,548 shares, compared to its average volume of 32,351. The company’s fifty day moving average price is $11.31 and its 200 day moving average price is $11.66. Federated Hermes Premier Municipal Income Fund has a twelve month low of $10.74 and a twelve month high of $12.53.

Federated Hermes Premier Municipal Income Fund Announces Dividend

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

Insider Buying and Selling at Federated Hermes Premier Municipal Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of Federated Hermes Premier Municipal Income Fund stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $12.67, for a total value of $6,630,502.41. Following the sale, the insider now directly owns 1,111,886 shares in the company, valued at $14,087,595.62. This trade 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 is available at the SEC website. Insiders have sold 524,791 shares of company stock valued at $6,649,002 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FMN. Avior Wealth Management LLC boosted its holdings in shares of Federated Hermes Premier Municipal Income Fund by 50.1% in the 3rd quarter. Avior Wealth Management LLC now owns 5,534 shares of the company’s stock valued at $69,000 after buying an additional 1,847 shares during the last quarter. XML Financial LLC lifted its stake in Federated Hermes Premier Municipal Income Fund by 11.2% in the third quarter. XML Financial LLC now owns 25,830 shares of the company’s stock valued at $321,000 after acquiring an additional 2,600 shares during the last quarter. Capital Investment Advisors LLC grew its position 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 period. Bank of New York Mellon Corp increased its stake in shares of Federated Hermes Premier Municipal Income Fund by 100.1% during 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 last quarter. Finally, Quarry LP bought a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 3rd quarter valued at about $976,000.

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.