Principal Real Estate Income Fund (NYSE:PGZ) Share Price Breaks Below 50-Day Moving Average – Time to Sell?

Principal Real Estate Income Fund (NYSE:PGZ)’s stock price crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $9.07 and traded as low as $8.98. Principal Real Estate Income Fund shares last traded at $9.0560, with a volume of 26,763 shares traded.

Principal Real Estate Income Fund Price Performance

The stock has a 50 day moving average price of $9.03 and a 200 day moving average price of $9.83.

Principal Real Estate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, January 14th will be paid a $0.1050 dividend. This represents a $1.26 annualized dividend and a yield of 14.3%. The ex-dividend date of this dividend is Thursday, January 14th.

Hedge Funds Weigh In On Principal Real Estate Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC bought a new stake in shares of Principal Real Estate Income Fund during the 1st quarter valued at $119,000. First Trust Advisors LP grew its position in shares of 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 worth $348,000 after buying an additional 2,522 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Principal Real Estate Income Fund in the 3rd quarter worth about $674,000. Shaker Financial Services LLC increased its stake in shares of Principal Real Estate Income Fund by 713.4% in the 3rd quarter. Shaker Financial Services LLC now owns 90,664 shares of the company’s stock worth $809,000 after acquiring an additional 79,518 shares in the last quarter. Finally, Riverbridge Partners LLC increased its stake in shares of Principal Real Estate Income Fund by 4.6% in the 3rd quarter. Riverbridge Partners LLC now owns 213,535 shares of the company’s stock worth $1,905,000 after acquiring an additional 9,396 shares in the last quarter.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund (NYSE: PGZ) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, long-term capital appreciation. The fund focuses on investments tied to the commercial real estate market rather than owning and operating a single portfolio of properties. Its portfolio may include commercial mortgage loans, commercial mortgage-backed securities, real estate-related debt, and other securities issued by or connected to real estate companies and investment vehicles.