Thomas R. Donahue, Treasurer/Trustee of Federated Hermes (NYSE:FHI) Premier Municipal Income Fund (NYSE:FMN), recently sold 1,068 common shares of the fund. The shares were sold at a price of $12.67 each, totaling approximately $13,531. Following this transaction, Donahue holds 380 shares in the fund. This sale was part of a tender offer accepted by the fund on October 15, 2024.
InvestingPro Insights
While Thomas R. Donahue's recent sale of Federated Hermes Premier Municipal Income Fund (NYSE:FMN) shares might raise eyebrows, it's important to consider the broader context of the fund's performance and characteristics. According to InvestingPro data, FMN has demonstrated strong performance, with a 35.47% price total return over the past year and is currently trading near its 52-week high at 98.56% of that peak.
InvestingPro Tips reveal that FMN has maintained dividend payments for 22 consecutive years, showcasing its commitment to shareholder returns. This consistency is further supported by the fund's current dividend yield of 3.69%, which may be attractive to income-focused investors. Additionally, the fund's stock generally trades with low price volatility, potentially appealing to risk-averse investors seeking stable municipal bond exposure.
It's worth noting that FMN's market capitalization stands at $142 million, with a P/E ratio of 26.5. While this valuation might seem high, it's important to consider the fund's steady revenue growth of 7.46% over the last twelve months and its impressive gross profit margin of 100%.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of FMN's investment potential. The InvestingPro product includes several more tips that could be valuable for those considering an investment in this municipal income fund.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.