Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Shares Down 0.5% – Here’s Why

Shares of Federated Hermes Premier Municipal Income Fund (NYSE:FMN) were down 0.5% on Thursday . The company traded as low as $10.58 and last traded at $10.59. Approximately 27,182 shares were traded during trading, a decline of 28% from the average daily volume of 38,002 shares. The stock had previously closed at $10.64.

Federated Hermes Premier Municipal Income Fund Price Performance

The company’s fifty day simple moving average is $10.58 and its 200 day simple moving average is $10.88.

Federated Hermes Premier Municipal Income Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.045 per share. This is a positive change from Federated Hermes Premier Municipal Income Fund’s previous monthly dividend of $0.04. This represents a $0.54 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Monday, June 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FMN. Raymond James Financial Inc. acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund in the 4th quarter valued at approximately $778,000. Whitebox Advisors LLC acquired a new stake in Federated Hermes Premier Municipal Income Fund during the 4th quarter worth approximately $507,000. Riverbridge Partners LLC boosted its position in Federated Hermes Premier Municipal Income Fund by 111.4% during the 1st quarter. Riverbridge Partners LLC now owns 86,588 shares of the company’s stock worth $940,000 after buying an additional 45,626 shares during the period. Ackerman Capital Advisors LLC bought a new position in shares of Federated Hermes Premier Municipal Income Fund during the fourth quarter valued at $371,000. Finally, Wolverine Asset Management LLC lifted its holdings in Federated Hermes Premier Municipal Income Fund by 142.3% during the 1st quarter. Wolverine Asset Management LLC now owns 52,607 shares of the company’s stock worth $571,000 after buying an additional 30,893 shares during the period.

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.