Principal Real Estate Income Fund (NYSE:PGZ) Shares Up 0.3% After Dividend Announcement

Principal Real Estate Income Fund (NYSE:PGZ)’s share price traded up 0.3% on Friday following a dividend announcement from the company. The stock traded as high as $10.55 and last traded at $10.54. 9,342 shares were traded during trading, a decline of 67% from the average session volume of 28,591 shares. The stock had previously closed at $10.51.

The newly announced dividend which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.105 dividend. This represents a yield of 12%. The ex-dividend date is Friday, October 17th.

Principal Real Estate Income Fund Price Performance

The business has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $10.28.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RFG Advisory LLC bought a new position in Principal Real Estate Income Fund in the first quarter valued at about $163,000. Clear Creek Financial Management LLC bought a new position in shares of Principal Real Estate Income Fund in the first quarter worth about $178,000. Cetera Investment Advisers raised its stake in shares of Principal Real Estate Income Fund by 89.4% in the fourth quarter. Cetera Investment Advisers now owns 19,849 shares of the company’s stock worth $196,000 after buying an additional 9,370 shares during the period. Raymond James Financial Inc. bought a new position in shares of Principal Real Estate Income Fund in the fourth quarter worth about $336,000. Finally, First Trust Advisors LP raised its stake in shares of Principal Real Estate Income Fund by 4.6% in the fourth quarter. First Trust Advisors LP now owns 38,321 shares of the company’s stock worth $379,000 after buying an additional 1,688 shares during the period.

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.