Federated Hermes Premier Municipal Income Fund Plans Monthly Dividend of $0.04 (NYSE:FMN)

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) declared a monthly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be given a dividend of 0.038 per share on Monday, December 2nd. This represents a $0.46 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Friday, November 22nd.

Federated Hermes Premier Municipal Income Fund has decreased its dividend payment by an average of 10.4% annually over the last three years.

Federated Hermes Premier Municipal Income Fund Stock Down 0.9 %

Federated Hermes Premier Municipal Income Fund stock opened at $11.24 on Wednesday. Federated Hermes Premier Municipal Income Fund has a 52 week low of $9.80 and a 52 week high of $12.53. The company has a 50 day moving average price of $12.07 and a 200 day moving average price of $11.66.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 523,323 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $12.67, for a total transaction of $6,630,502.41. Following the transaction, the insider now owns 1,111,886 shares in the company, valued at approximately $14,087,595.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 524,791 shares of company stock worth $6,649,002 in the last quarter.

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.