CBRE Global Real Estate Income Fund (NYSE:IGR) Stock Passes Below 50-Day Moving Average – Here’s Why

CBRE Global Real Estate Income Fund (NYSE:IGR) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.57 and traded as low as $4.36. CBRE Global Real Estate Income Fund shares last traded at $4.39, with a volume of 2,051,842 shares trading hands.

CBRE Global Real Estate Income Fund Price Performance

The stock’s 50-day moving average is $4.57 and its 200-day moving average is $4.89.

CBRE Global Real Estate Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 19th were issued a $0.06 dividend. The ex-dividend date was Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 16.4%.

Insider Buying and Selling

In other news, Director Peter Francis Finnerty bought 46,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was purchased at an average cost of $4.32 per share, for a total transaction of $200,880.00. Following the completion of the transaction, the director directly owned 46,500 shares of the company’s stock, valued at approximately $200,880. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased a total of 50,286 shares of company stock worth $216,861 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new position in shares of CBRE Global Real Estate Income Fund in the third quarter worth about $34,000. Atticus Wealth Management LLC lifted its position in shares of CBRE Global Real Estate Income Fund by 41.0% in the 2nd quarter. Atticus Wealth Management LLC now owns 7,340 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 2,136 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in CBRE Global Real Estate Income Fund in the 2nd quarter worth approximately $41,000. Balboa Wealth Partners purchased a new position in CBRE Global Real Estate Income Fund during the 3rd quarter worth approximately $65,000. Finally, AE Wealth Management LLC acquired a new stake in CBRE Global Real Estate Income Fund during the 2nd quarter valued at $67,000.

CBRE Global Real Estate Income Fund Company Profile

CBRE Global Real Estate Income Fund Inc (NYSE: IGR) is a closed?end management investment company that seeks to provide attractive levels of current income and capital appreciation by investing primarily in global real estate securities. Managed by CBRE Investment Management, the fund’s portfolio is composed of publicly traded real estate investment trusts (REITs), real estate operating companies and other real estate?related equity securities across developed and emerging markets.

The fund employs a research?driven, bottom?up investment approach, leveraging CBRE’s global platform and market intelligence to identify opportunities in diverse property sectors, including office, retail, industrial, residential and hospitality.