Principal Real Estate Income Fund (NYSE:PGZ) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Principal Real Estate Income Fund (NYSE:PGZ) shares passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $9.07 and traded as low as $8.98. Principal Real Estate Income Fund shares last traded at $9.0560, with a volume of 26,763 shares changing hands.

Principal Real Estate Income Fund Stock Down 0.3%

The company has a 50-day simple moving average of $9.07 and a 200 day simple moving average of $9.84.

Principal Real Estate Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, January 14th will be paid a $0.1050 dividend. The ex-dividend date is Thursday, January 14th. This represents a $1.26 annualized dividend and a dividend yield of 13.9%.

Hedge Funds Weigh In On Principal Real Estate Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Riverbridge Partners LLC boosted its holdings in Principal Real Estate Income Fund by 4.6% in the 3rd quarter. Riverbridge Partners LLC now owns 213,535 shares of the company’s stock valued at $1,905,000 after purchasing an additional 9,396 shares during the period. Lido Advisors LLC grew its position in Principal Real Estate Income Fund by 23.2% in the 3rd quarter. Lido Advisors LLC now owns 143,090 shares of the company’s stock worth $1,276,000 after purchasing an additional 26,970 shares during the last quarter. Shaker Financial Services LLC increased its holdings in shares of Principal Real Estate Income Fund by 713.4% during the 3rd quarter. Shaker Financial Services LLC now owns 90,664 shares of the company’s stock worth $809,000 after purchasing an additional 79,518 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Principal Real Estate Income Fund during the 3rd quarter worth about $674,000. Finally, NWF Advisory Services Inc. raised its position in shares of Principal Real Estate Income Fund by 5.5% during the first quarter. NWF Advisory Services Inc. now owns 48,200 shares of the company’s stock valued at $463,000 after buying an additional 2,500 shares during the last quarter.

Principal Real Estate Income Fund Company Profile

Principal Real Estate Income Fund (NYSE: PGZ) is a closed-end investment fund that seeks to provide investors with a high level of current income and, secondarily, long-term capital appreciation. The fund focuses on investments tied to the commercial real estate market rather than owning and operating a single portfolio of properties. Its portfolio may include commercial mortgage loans, commercial mortgage-backed securities, real estate-related debt, and other securities issued by or connected to real estate companies and investment vehicles.