Principal Real Estate Income Fund (NYSE:PGZ) Sees Large Decline in Short Interest

Principal Real Estate Income Fund (NYSE:PGZ) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 3,775 shares, a drop of 51.4% from the January 15th total of 7,771 shares. Based on an average trading volume of 23,508 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 23,508 shares, the short-interest ratio is currently 0.2 days.

Principal Real Estate Income Fund Stock Up 0.6%

Shares of NYSE:PGZ traded up $0.06 during trading on Friday, hitting $10.50. 25,882 shares of the company traded hands, compared to its average volume of 29,269. The business’s fifty day moving average is $10.10 and its 200-day moving average is $10.28. Principal Real Estate Income Fund has a one year low of $9.24 and a one year high of $10.76.

Principal Real Estate Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 16th will be given a $0.105 dividend. The ex-dividend date of this dividend is Thursday, April 16th. This represents a c) annualized dividend and a yield of 12.0%.

Hedge Funds Weigh In On Principal Real Estate Income Fund

Several institutional investors have recently modified their holdings of the company. RFG Advisory LLC increased its holdings in shares of Principal Real Estate Income Fund by 16.8% in the 2nd quarter. RFG Advisory LLC now owns 18,074 shares of the company’s stock worth $190,000 after acquiring an additional 2,600 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Principal Real Estate Income Fund by 3.3% in the second quarter. J.W. Cole Advisors Inc. now owns 98,453 shares of the company’s stock valued at $1,036,000 after purchasing an additional 3,161 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Principal Real Estate Income Fund in the second quarter valued at approximately $123,000. Raymond James Financial Inc. raised its holdings in shares of Principal Real Estate Income Fund by 77.3% during the second quarter. Raymond James Financial Inc. now owns 43,797 shares of the company’s stock valued at $461,000 after buying an additional 19,095 shares during the last quarter. Finally, Riverbridge Partners LLC boosted its position in shares of Principal Real Estate Income Fund by 2.5% during the third quarter. Riverbridge Partners LLC now owns 144,972 shares of the company’s stock worth $1,516,000 after buying an additional 3,600 shares during the period.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund Inc (NYSE: PGZ) is a diversified, closed-end management investment company that seeks a high level of current income and capital appreciation through investments in real estate securities. Launched in 2015 and managed by Principal Real Estate Investors, LLC, the fund primarily targets publicly traded equity and mortgage real estate investment trusts (REITs), as well as real estate operating companies. It offers investors access to a broad real estate portfolio that may include residential, office, industrial, retail and specialty property sectors.

The fund’s investment approach emphasizes a balance between income generation and total return potential.