Thomas R. Donahue, the Treasurer and Trustee of Federated Investment Management Company, has reported a sale of common shares from Federated Hermes (NYSE:FHI) Premier Municipal Income Fund (NYSE:FMN). On November 7, Donahue sold 380 shares at a price of $11.2583 per share, totaling approximately $4,278. Following this transaction, Donahue no longer holds any shares in the fund. This information was disclosed in a recent SEC filing.
InvestingPro Insights
While Thomas R. Donahue's recent sale of Federated Hermes Premier Municipal Income Fund (NYSE:FMN) shares may raise questions, it's important to consider the broader financial picture of the fund. According to InvestingPro data, FMN has a market capitalization of $129.01 million and a P/E ratio of 24.08, suggesting a moderate valuation relative to its earnings.
One of the fund's strengths, as highlighted by an InvestingPro Tip, is its consistent dividend history. FMN has maintained dividend payments for 22 consecutive years, which may be attractive to income-focused investors. This is further supported by the current dividend yield of 4.02%, offering a potentially steady income stream.
Another InvestingPro Tip notes that the fund's liquid assets exceed its short-term obligations, indicating a strong financial position. This liquidity could provide a buffer against market volatility and support the fund's ongoing operations.
It's worth noting that FMN has shown profitability over the last twelve months, with a gross profit of $10.49 million and an operating income of $9.09 million. The fund's revenue growth of 7.46% over the last twelve months also suggests positive momentum.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 5 more InvestingPro Tips available for FMN, which could provide valuable context for understanding the fund's performance and prospects.
Thomas R. Donahue, the Treasurer and Trustee of Federated Investment Management Company, has reported a sale of common shares from Federated Hermes Premier Municipal Income Fund (NYSE:FMN). On November 7, Donahue sold 380 shares at a price of $11.2583 per share, totaling approximately $4,278. Following this transaction, Donahue no longer holds any shares in the fund. This information was disclosed in a recent SEC filing.
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