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

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

Principal Real Estate Income Fund Price Performance

PGZ stock traded up $0.02 during trading on Friday, hitting $10.45. 14,731 shares of the company’s stock traded hands, compared to its average volume of 27,492. The business has a fifty day simple moving average of $10.31 and a 200 day simple moving average of $10.58. Principal Real Estate Income Fund has a 52 week low of $9.46 and a 52 week high of $11.31.

Principal Real Estate Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.105 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.26 annualized dividend and a yield of 12.06%.

Institutional Investors Weigh In On Principal Real Estate Income Fund

Several large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its holdings in shares of Principal Real Estate Income Fund by 4.6% in the 4th quarter. First Trust Advisors LP now owns 38,321 shares of the company’s stock worth $379,000 after purchasing an additional 1,688 shares during the period. Robinson Capital Management LLC boosted its stake in Principal Real Estate Income Fund by 5.7% during the fourth quarter. Robinson Capital Management LLC now owns 46,008 shares of the company’s stock worth $455,000 after buying an additional 2,470 shares during the period. Cetera Investment Advisers increased its position in Principal Real Estate Income Fund by 89.4% during the fourth quarter. Cetera Investment Advisers now owns 19,849 shares of the company’s stock valued at $196,000 after acquiring an additional 9,370 shares during the last quarter. Shaker Financial Services LLC raised its stake 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 valued at $514,000 after acquiring an additional 22,868 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of Principal Real Estate Income Fund by 81.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 74,955 shares of the company’s stock worth $741,000 after acquiring an additional 33,607 shares during the last quarter.

Principal Real Estate Income Fund Company Profile

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.