Short Interest in Principal Real Estate Income Fund (NYSE:PGZ) Drops By 37.0%

Principal Real Estate Income Fund (NYSE:PGZ) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 13,600 shares, a decrease of 37.0% from the February 13th total of 21,600 shares. Based on an average daily volume of 36,100 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Principal Real Estate Income Fund

Several hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in shares of Principal Real Estate Income Fund by 89.4% in the fourth quarter. Cetera Investment Advisers now owns 19,849 shares of the company’s stock worth $196,000 after buying an additional 9,370 shares in the last quarter. Bulldog Investors LLP lifted its holdings in shares of Principal Real Estate Income Fund by 103.0% in the fourth quarter. Bulldog Investors LLP now owns 369,396 shares of the company’s stock worth $3,651,000 after buying an additional 187,471 shares in the last quarter. Shaker Financial Services LLC lifted its holdings in shares of Principal Real Estate Income Fund by 78.4% in the fourth quarter. Shaker Financial Services LLC now owns 52,041 shares of the company’s stock worth $514,000 after buying an additional 22,868 shares in the last quarter. First Trust Advisors LP raised its stake in Principal Real Estate Income Fund by 4.6% during the fourth quarter. First Trust Advisors LP now owns 38,321 shares of the company’s stock valued at $379,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Principal Real Estate Income Fund during the fourth quarter valued at $336,000.

Principal Real Estate Income Fund Stock Performance

Shares of PGZ traded up $0.02 during mid-day trading on Friday, reaching $10.45. The stock had a trading volume of 14,731 shares, compared to its average volume of 27,566. Principal Real Estate Income Fund has a 12 month low of $9.46 and a 12 month high of $11.31. The business has a fifty day moving average of $10.32 and a 200 day moving average of $10.57.

Principal Real Estate Income Fund Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a dividend yield of 12.06%.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund is a closed ended balanced mutual fund launched and managed by ALPS Advisers, Inc It is co-managed by Principal Real Estate Investors, LLC. The fund invests in public equity and fixed income markets of the United States. It seeks to invest in commercial mortgage backed securities, real estate investment trusts and REIT-like entities.