Principal Real Estate Income Fund (NYSE:PGZ) Trading 0.7% Higher – Here’s Why

Principal Real Estate Income Fund (NYSE:PGZ)’s stock price shot up 0.7% on Wednesday . The company traded as high as $10.74 and last traded at $10.71. 8,730 shares were traded during 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 Price Performance

The business has a fifty day moving average of $10.81 and a 200-day moving average of $10.58.

Principal Real Estate Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC purchased a new position in shares of Principal Real Estate Income Fund in the 3rd quarter worth about $1,475,000. Sanctuary Advisors LLC purchased a new position in Principal Real Estate Income Fund in the second quarter valued at about $411,000. J.W. Cole Advisors Inc. bought a new position in shares of Principal Real Estate Income Fund during the 3rd quarter valued at approximately $462,000. Shaker Financial Services LLC increased its stake in shares of Principal Real Estate Income Fund by 126.1% during the 3rd quarter. Shaker Financial Services LLC now owns 29,173 shares of the company’s stock worth $326,000 after purchasing an additional 16,273 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Principal Real Estate Income Fund in the 2nd quarter worth approximately $44,000.

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.