Short Interest in Principal Real Estate Income Fund (NYSE:PGZ) Drops By 52.0%

Principal Real Estate Income Fund (NYSE:PGZ) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 8,604 shares, a drop of 52.0% from the August 15th total of 17,916 shares. Based on an average daily trading volume, of 25,070 shares, the short-interest ratio is currently 0.3 days.

Principal Real Estate Income Fund Price Performance

PGZ traded down $0.24 on Wednesday, reaching $9.28. The company had a trading volume of 40,905 shares, compared to its average volume of 24,699. Principal Real Estate Income Fund has a 1 year low of $9.26 and a 1 year high of $10.60. The stock has a 50-day moving average price of $10.06 and a 200-day moving average price of $10.03.

Principal Real Estate Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $0.105 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Riverbridge Partners LLC lifted its stake in Principal Real Estate Income Fund by 0.9% in the second quarter. Riverbridge Partners LLC now owns 204,139 shares of the company’s stock valued at $2,101,000 after buying an additional 1,871 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of Principal Real Estate Income Fund in the 1st quarter valued at $119,000. First Trust Advisors LP raised its position in Principal Real Estate Income Fund by 7.5% in the 1st quarter. First Trust Advisors LP now owns 36,243 shares of the company’s stock valued at $348,000 after purchasing an additional 2,522 shares during the last quarter. NWF Advisory Services Inc. boosted its stake in Principal Real Estate Income Fund by 5.5% during the 1st quarter. NWF Advisory Services Inc. now owns 48,200 shares of the company’s stock worth $463,000 after purchasing an additional 2,500 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new stake in Principal Real Estate Income Fund during the 4th quarter worth $827,000.

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.