Short Interest in Principal Real Estate Income Fund (NYSE:PGZ) Drops By 35.4%

Principal Real Estate Income Fund (NYSE:PGZ) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 17,916 shares, a decline of 35.4% from the July 30th total of 27,725 shares. Based on an average trading volume of 13,790 shares, the short-interest ratio is presently 1.3 days.

Principal Real Estate Income Fund Stock Down 0.6%

Shares of Principal Real Estate Income Fund stock traded down $0.06 during midday trading on Tuesday, reaching $9.80. 26,605 shares of the company’s stock traded hands, compared to its average volume of 24,809. The company’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $10.09. Principal Real Estate Income Fund has a 52 week low of $9.32 and a 52 week high of $10.64.

Principal Real Estate Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $0.105 per share. This represents a c) annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Friday, October 16th.

Institutional Trading of Principal Real Estate Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. acquired a new position in shares of Principal Real Estate Income Fund during the 2nd quarter valued at about $123,000. Lido Advisors LLC acquired a new stake in Principal Real Estate Income Fund in the 1st quarter worth approximately $119,000. LPL Financial LLC lifted its holdings in Principal Real Estate Income Fund by 37.3% in the 4th quarter. LPL Financial LLC now owns 18,883 shares of the company’s stock worth $189,000 after purchasing an additional 5,125 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Principal Real Estate Income Fund during the fourth quarter worth approximately $298,000. Finally, First Trust Advisors LP boosted its position in Principal Real Estate Income Fund by 3.2% during the third quarter. First Trust Advisors LP now owns 35,828 shares of the company’s stock worth $375,000 after purchasing an additional 1,118 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.