Principal Real Estate Income Fund (NYSE:PGZ) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Principal Real Estate Income Fund (NYSE:PGZ) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.18 and traded as low as $10.17. Principal Real Estate Income Fund shares last traded at $10.2050, with a volume of 18,764 shares traded.

Principal Real Estate Income Fund Stock Up 0.0%

The stock has a fifty day moving average price of $10.18 and a 200 day moving average price of $10.11.

Principal Real Estate Income Fund Dividend Announcement

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

Institutional Investors Weigh In On Principal Real Estate Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of PGZ. Baird Financial Group Inc. bought a new stake in shares of Principal Real Estate Income Fund during the second quarter worth $123,000. Raymond James Financial Inc. boosted its holdings in shares of Principal Real Estate Income Fund by 77.3% in the second quarter. Raymond James Financial Inc. now owns 43,797 shares of the company’s stock valued at $461,000 after purchasing an additional 19,095 shares during the period. First Trust Advisors LP increased its holdings in Principal Real Estate Income Fund by 3.2% during the 3rd quarter. First Trust Advisors LP now owns 35,828 shares of the company’s stock worth $375,000 after purchasing an additional 1,118 shares during the period. Shaker Financial Services LLC lifted its holdings in shares of Principal Real Estate Income Fund by 272.9% in the 4th quarter. Shaker Financial Services LLC now owns 50,826 shares of the company’s stock worth $509,000 after buying an additional 37,197 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Principal Real Estate Income Fund during the fourth quarter valued at $298,000.

Principal Real Estate Income Fund Company Profile

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.