First Trust Portfolios Updates Stake in Federated Hermes Muni Fund
Ticker: FMN · Form: SC 13G/A · Filed: Feb 7, 2024 · CIK: 1199004
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, fund-holdings
TL;DR
**First Trust Portfolios just updated their stake in Federated Hermes Muni Fund, showing continued institutional interest.**
AI Summary
First Trust Portfolios L.P. has filed an amended Schedule 13G/A for Federated Hermes Premier Municipal Income Fund, indicating their ownership stake as of December 31, 2023. This filing, Amendment No. 20, updates previous disclosures and includes First Trust Advisors L.P. and The Charger Corporation as related reporting persons. This matters to investors because it provides transparency into significant institutional holdings, which can influence stock stability and market perception for Federated Hermes Premier Municipal Income Fund.
Why It Matters
This filing shows that First Trust Portfolios L.P. continues to hold a significant position in Federated Hermes Premier Municipal Income Fund, signaling ongoing institutional confidence or a re-evaluation of their investment strategy.
Risk Assessment
Risk Level: low — An amended 13G filing typically indicates routine updates to institutional ownership and does not inherently signal high risk.
Analyst Insight
Investors should note the continued institutional presence of First Trust Portfolios L.P. in Federated Hermes Premier Municipal Income Fund, which suggests a stable, long-term holding by a major financial institution. This information can be used to gauge institutional confidence in the fund, but does not indicate any immediate buy/sell signal.
Key Numbers
- 31423P108 — CUSIP Number (identifies the specific class of securities (Common stock) of Federated Hermes Premier Municipal Income Fund)
- 0001199004 — Central Index Key (CIK) (unique identifier for Federated Hermes Premier Municipal Income Fund)
- 0001184765 — Central Index Key (CIK) (unique identifier for First Trust Portfolios L.P.)
- 20 — Amendment Number (indicates this is the 20th amendment to the original Schedule 13G filing)
Key Players & Entities
- First Trust Portfolios L.P. (company) — reporting person filing the SC 13G/A
- Federated Hermes Premier Municipal Income Fund (company) — the subject company (issuer) of the securities
- First Trust Advisors L.P. (company) — related reporting person
- The Charger Corporation (company) — related reporting person
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- First Trust Portfolios L.P. will maintain a significant, passive stake in Federated Hermes Premier Municipal Income Fund. (First Trust Portfolios L.P.) — medium confidence, target: Q4 2024
FAQ
What is the purpose of this specific filing, SC 13G/A?
This is an amended Schedule 13G filing (Amendment No. 20) under Rule 13d-1(b) of the Securities Exchange Act of 1934, indicating an update to a passive institutional investor's ownership stake in Federated Hermes Premier Municipal Income Fund as of December 31, 2023.
Who are the primary reporting persons identified in this filing?
The primary reporting persons are First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation, as listed under Item 1 of the cover page.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common class of securities of Federated Hermes Premier Municipal Income Fund is 31423P108, as stated on the cover page and Item 2.
When was the event that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified on the cover page.
What type of securities are being reported on in this filing?
The filing reports on the 'Common' class of securities of Federated Hermes Premier Municipal Income Fund, as indicated under 'Title of Class of Securities' on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 7, 2024 regarding Federated Hermes Premier Municipal Income Fund (FMN).