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

Principal Real Estate Income Fund (NYSE:PGZ) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 8,800 shares, a decrease of 20.0% from the December 15th total of 11,000 shares. Based on an average daily trading volume, of 33,200 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC bought a new position in shares of Principal Real Estate Income Fund during the third quarter worth $1,475,000. Shaker Financial Services LLC increased its position in shares of Principal Real Estate Income Fund by 126.1% in the 3rd quarter. Shaker Financial Services LLC now owns 29,173 shares of the company’s stock valued at $326,000 after buying an additional 16,273 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Principal Real Estate Income Fund during the 3rd quarter worth $462,000. SeaCrest Wealth Management LLC lifted its holdings 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 acquiring an additional 1,794 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Principal Real Estate Income Fund in the second quarter valued at about $411,000.

Principal Real Estate Income Fund Stock Performance

Shares of PGZ opened at $10.15 on Wednesday. Principal Real Estate Income Fund has a 1 year low of $9.46 and a 1 year high of $11.31. The stock’s 50-day moving average price is $10.36 and its two-hundred day moving average price is $10.62.

Principal Real Estate Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be paid a dividend of $0.105 per share. This represents a $1.26 annualized dividend and a yield of 12.41%. The ex-dividend date of this dividend is Thursday, February 13th.

About Principal Real Estate Income Fund

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.