Bank of America Corp. (NYSE:BAC), through its subsidiaries Merrill Lynch, Pierce, Fenner & Smith Inc. and BofA Securities, Inc., recently disclosed a series of stock transactions involving Federated Hermes (NYSE:FHI) Premier Municipal Income Fund (NYSE:FMN). According to the latest SEC Form 4 filing, the financial giant sold shares worth a total of $55,472, with the transaction prices ranging from $13.39 to $14.125 per share.
These sales were part of multiple transactions executed over various dates. Notably, on March 13, 2023, Bank of America sold 66 shares at $10.6692 each, and on June 13, 2023, further sales included 200 shares at $10.6301 per share. InvestingPro data shows FMN generally trades with low price volatility, with a beta of 0.54.
In addition to the sales, Bank of America also made purchases totaling $55,556, with prices ranging from $13.36 to $14.11 per share. The company continues to maintain a significant presence in the stock of Federated Hermes Premier Municipal Income Fund, reflecting its ongoing investment strategy. With a market capitalization of $129.93 million and strong liquidity metrics, FMN demonstrates solid financial health according to InvestingPro analysis.
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