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

Principal Real Estate Income Fund (NYSE:PGZ) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 42,944 shares, an increase of 223.9% from the May 31st total of 13,260 shares. Based on an average daily trading volume, of 25,037 shares, the days-to-cover ratio is presently 1.7 days.

Principal Real Estate Income Fund Trading Up 1.1%

Principal Real Estate Income Fund stock traded up $0.12 during trading hours on Monday, hitting $10.21. The stock had a trading volume of 37,615 shares, compared to its average volume of 26,637. The company has a 50-day moving average of $9.98 and a two-hundred day moving average of $10.06. Principal Real Estate Income Fund has a fifty-two week low of $9.32 and a fifty-two week high of $10.64.

Principal Real Estate Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.105 per share. The ex-dividend date is Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Riverbridge Partners LLC boosted its stake in Principal Real Estate Income Fund by 8.0% during the first quarter. Riverbridge Partners LLC now owns 202,268 shares of the company’s stock worth $1,944,000 after buying an additional 15,064 shares in the last quarter. NWF Advisory Services Inc. raised its stake in shares of Principal Real Estate Income Fund by 5.5% in the 1st quarter. NWF Advisory Services Inc. now owns 48,200 shares of the company’s stock valued at $463,000 after buying an additional 2,500 shares in the last quarter. First Trust Advisors LP raised its stake 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 valued at $348,000 after buying an additional 2,522 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Principal Real Estate Income Fund during the 2nd quarter worth about $123,000. Finally, LPL Financial LLC lifted its holdings in shares of Principal Real Estate Income Fund by 37.3% during the 4th quarter. LPL Financial LLC now owns 18,883 shares of the company’s stock worth $189,000 after acquiring an additional 5,125 shares during the period.

Principal Real Estate Income Fund Company Profile

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.