Principal Real Estate Income Fund (NYSE:PGZ) Short Interest Up 1,170.6% in February

Principal Real Estate Income Fund (NYSE:PGZ) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 21,600 shares, a growth of 1,170.6% from the January 31st total of 1,700 shares. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers lifted its stake in shares of Principal Real Estate Income Fund by 89.4% during the fourth quarter. Cetera Investment Advisers now owns 19,849 shares of the company’s stock worth $196,000 after purchasing an additional 9,370 shares in the last quarter. Shaker Financial Services LLC lifted its stake in shares of Principal Real Estate Income Fund by 126.1% during the third 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Principal Real Estate Income Fund during the fourth quarter worth about $336,000. First Trust Advisors LP increased its position in shares of Principal Real Estate Income Fund by 4.6% during the fourth quarter. First Trust Advisors LP now owns 38,321 shares of the company’s stock worth $379,000 after acquiring an additional 1,688 shares during the last quarter. Finally, Robinson Capital Management LLC increased its position in shares of Principal Real Estate Income Fund by 5.7% during the fourth quarter. Robinson Capital Management LLC now owns 46,008 shares of the company’s stock worth $455,000 after acquiring an additional 2,470 shares during the last quarter.

Principal Real Estate Income Fund Stock Performance

Shares of PGZ opened at $10.64 on Friday. The stock’s 50-day moving average is $10.18 and its two-hundred day moving average is $10.59. Principal Real Estate Income Fund has a 12 month low of $9.46 and a 12 month high of $11.31.

Principal Real Estate Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 11.84%. The ex-dividend date of this dividend is Monday, March 17th.

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.