Principal Real Estate Income Fund (NYSE:PGZ) Trading 0.7% Higher – Should You Buy?

Principal Real Estate Income Fund (NYSE:PGZ) shot up 0.7% during trading on Wednesday . The company traded as high as $10.74 and last traded at $10.71. 8,730 shares were traded during mid-day trading, a decline of 64% from the average session volume of 24,042 shares. The stock had previously closed at $10.64.

Principal Real Estate Income Fund Trading Up 0.7 %

The firm has a 50-day simple moving average of $10.81 and a two-hundred day simple moving average of $10.58.

Principal Real Estate Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.105 dividend. This represents a $1.26 annualized dividend and a yield of 11.67%. The ex-dividend date of this dividend is Monday, December 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC grew its position in Principal Real Estate Income Fund by 8.4% during the third quarter. SeaCrest Wealth Management LLC now owns 23,251 shares of the company’s stock worth $260,000 after buying an additional 1,794 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Principal Real Estate Income Fund in the 2nd quarter valued at approximately $43,000. Wolverine Asset Management LLC bought a new stake in shares of Principal Real Estate Income Fund during the second quarter worth $44,000. Shaker Financial Services LLC acquired a new position in shares of Principal Real Estate Income Fund during the second quarter worth $132,000. Finally, J.W. Cole Advisors Inc. bought a new position in shares of Principal Real Estate Income Fund in the 3rd quarter valued at $462,000.

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.