Principal Real Estate Income Fund (NYSE:PGZ) Trading 0.3% Higher – Should You Buy?

Principal Real Estate Income Fund (NYSE:PGZ)’s share price rose 0.3% during trading on Thursday . The stock traded as high as $9.97 and last traded at $9.91. Approximately 51,192 shares changed hands during mid-day 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 business has a 50 day moving average price of $10.45 and a two-hundred day moving average price of $10.61.

Principal Real Estate Income Fund Announces Dividend

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

Hedge Funds Weigh In On Principal Real Estate Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of PGZ. Kovitz Investment Group Partners LLC purchased a new stake in shares of Principal Real Estate Income Fund during the 3rd quarter worth approximately $1,475,000. Shaker Financial Services LLC increased its holdings in shares of Principal Real Estate Income Fund by 126.1% in the 3rd quarter. Shaker Financial Services LLC now owns 29,173 shares of the company’s stock worth $326,000 after buying an additional 16,273 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Principal Real Estate Income Fund during the 3rd quarter valued at about $462,000. SeaCrest Wealth Management LLC lifted its holdings in shares of Principal Real Estate Income Fund by 8.4% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 23,251 shares of the company’s stock valued at $260,000 after acquiring an additional 1,794 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Principal Real Estate Income Fund in the second quarter worth about $411,000.

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.