Federated Hermes Premier Municipal Income Fund
44 hedge funds and large institutions have $37M invested in Federated Hermes Premier Municipal Income Fund in 2023 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 18 increasing their positions, 13 reducing their positions, and 4 closing their positions.
38% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 13
8% more capital invested
Capital invested by funds: $34.1M → $37M (+$2.87M)
1.63% more ownership
Funds ownership: 28.25% → 29.88% (+1.6%)
2% less funds holding
Funds holding: 45 → 44 (-1)
25% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 4
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$1.26M |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$948K |
| 3 |
Morgan Stanley
New York
|
+$471K |
| 4 |
HKAM
Horizon Kinetics Asset Management
New York
|
+$399K |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$292K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$875K |
| 2 |
Invesco
Atlanta,
Georgia
|
-$377K |
| 3 |
HighTower Advisors
Chicago,
Illinois
|
-$254K |
| 4 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
-$222K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$189K |
FMN Hedge Fund Activity: Q1 2023 in Review
44 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Federated Hermes Premier Municipal Income Fund (FMN) for Q1 2023, worth a combined $37M — up 8.4% from $34.1M a quarter earlier.
Sellers outnumbered buyers: 4 funds closed out of FMN and 3 opened new positions — a net loss of 1 holder — while 13 trimmed existing stakes and 18 added.
The largest buyer was Saba Capital Management, adding an estimated $1.26M. The largest seller was Wolverine Asset Management, exiting entirely with an estimated $875K sold.
- 44 institutional investors held Federated Hermes Premier Municipal Income Fund (FMN) as of Q1 2023, down from 45 in Q4 2022.
- Funds reported $37M of Federated Hermes Premier Municipal Income Fund stock for Q1 2023, up 8.4% quarter-over-quarter.
- 3 funds opened new Federated Hermes Premier Municipal Income Fund positions in Q1 2023 and 4 closed out, a net change of -1 holder.
- The largest Federated Hermes Premier Municipal Income Fund buyer in Q1 2023 was Saba Capital Management, an estimated $1.26M added.
- The largest Federated Hermes Premier Municipal Income Fund seller in Q1 2023 was Wolverine Asset Management, an estimated $875K sold.
Based on aggregated 13F filings for Q1 2023.