Principal Real Estate Income Fund (NYSE:PGZ) Stock Price Up 0.3% – Here’s Why

Principal Real Estate Income Fund (NYSE:PGZ)’s stock price rose 0.3% during mid-day trading on Thursday . The company traded as high as $9.97 and last traded at $9.91. Approximately 51,192 shares changed hands during trading, an increase of 100% from the average daily volume of 25,537 shares. The stock had previously closed at $9.88.

Principal Real Estate Income Fund Price Performance

The firm has a fifty day moving average of $10.45 and a 200 day moving average of $10.61.

Principal Real Estate Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $0.105 dividend. This represents a $1.26 annualized dividend and a dividend yield of 12.59%. The ex-dividend date of this dividend is Tuesday, April 15th.

Hedge Funds Weigh In On Principal Real Estate Income Fund

Several institutional investors have recently made changes to their positions in PGZ. EverSource Wealth Advisors LLC bought a new stake in Principal Real Estate Income Fund during the second quarter valued at about $43,000. Wolverine Asset Management LLC bought a new stake in Principal Real Estate Income Fund during the 2nd quarter worth approximately $44,000. Shaker Financial Services LLC bought a new stake in Principal Real Estate Income Fund during the 2nd quarter worth approximately $132,000. 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 valued at $260,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Principal Real Estate Income Fund in the second quarter worth approximately $411,000.

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.