Short Interest in Principal Real Estate Income Fund (NYSE:PGZ) Drops By 77.7%

Principal Real Estate Income Fund (NYSE:PGZ) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 5,043 shares, a drop of 77.7% from the December 15th total of 22,628 shares. Based on an average daily volume of 29,302 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 29,302 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling

In related news, insider Laton Spahr acquired 10,000 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $10.35 per share, with a total value of $103,500.00. Following the completion of the purchase, the insider owned 35,627 shares of the company’s stock, valued at approximately $368,739.45. This represents a 39.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Principal Real Estate Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGZ. Baird Financial Group Inc. purchased a new position in shares of Principal Real Estate Income Fund during the 2nd quarter worth $123,000. Shaker Financial Services LLC acquired a new position in Principal Real Estate Income Fund in the third quarter valued at about $143,000. RFG Advisory LLC boosted its stake in Principal Real Estate Income Fund by 16.8% during the second quarter. RFG Advisory LLC now owns 18,074 shares of the company’s stock worth $190,000 after buying an additional 2,600 shares during the period. First Trust Advisors LP increased its position in shares of Principal Real Estate Income Fund by 3.2% during the third quarter. First Trust Advisors LP now owns 35,828 shares of the company’s stock valued at $375,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Principal Real Estate Income Fund by 77.3% during the second quarter. Raymond James Financial Inc. now owns 43,797 shares of the company’s stock valued at $461,000 after acquiring an additional 19,095 shares during the last quarter.

Principal Real Estate Income Fund Stock Up 0.9%

Shares of PGZ traded up $0.10 during midday trading on Tuesday, reaching $10.27. The company had a trading volume of 37,906 shares, compared to its average volume of 25,081. The firm has a 50 day simple moving average of $10.10 and a 200-day simple moving average of $10.33. Principal Real Estate Income Fund has a 1-year low of $9.24 and a 1-year high of $10.76.

Principal Real Estate Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th will be issued a dividend of $0.105 per share. The ex-dividend date is Thursday, April 16th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund Inc (NYSE: PGZ) is a diversified, closed-end management investment company that seeks a high level of current income and capital appreciation through investments in real estate securities. Launched in 2015 and managed by Principal Real Estate Investors, LLC, the fund primarily targets publicly traded equity and mortgage real estate investment trusts (REITs), as well as real estate operating companies. It offers investors access to a broad real estate portfolio that may include residential, office, industrial, retail and specialty property sectors.

The fund’s investment approach emphasizes a balance between income generation and total return potential.