Federated Hermes Pennsylvania Municipal Income Fund Institutional Shares is a tax-exempt municipal bond mutual fund focused on generating current income free from federal regular income tax and from Pennsylvania state and local personal income taxes for residents of the state. The strategy invests primarily in **Pennsylvania tax-exempt securities**, emphasizing investment-grade credits and maintaining a long-term profile, with portfolio metrics such as multi-year average maturities and durations consistent with intermediate-to-long interest-rate exposure. The fund distributes **monthly dividends**, aligning with its income objective. It is categorized within the **Muni Pennsylvania** segment and benchmarks against the S&P Municipal Bond Pennsylvania Index, reflecting its state-specific mandate. Portfolio holdings span sectors like state general obligations, healthcare systems, airports, utilities, and specialized revenue bonds, including Pennsylvania tobacco settlement and local authority issues, illustrating diversified municipal revenue streams within the state. As an institutional share class, it features a lower expense profile relative to peers and a higher minimum initial investment, positioning it for professional and large-scale allocators seeking tax-efficient income from Pennsylvania municipal markets.
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