Principal Real Estate Income Fund (NYSE:PGZ) Short Interest Down 35.4% in August

Principal Real Estate Income Fund (NYSE:PGZ) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 17,916 shares, a drop of 35.4% from the July 30th total of 27,725 shares. Based on an average trading volume of 13,790 shares, the short-interest ratio is currently 1.3 days.

Principal Real Estate Income Fund Trading Down 0.4%

PGZ traded down $0.04 during trading on Wednesday, hitting $9.77. 4,108 shares of the stock traded hands, compared to its average volume of 24,687. Principal Real Estate Income Fund has a 12-month low of $9.32 and a 12-month high of $10.64. The firm has a 50-day moving average of $10.18 and a 200 day moving average of $10.09.

Principal Real Estate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a dividend of $0.105 per share. The ex-dividend date is Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 12.9%.

Hedge Funds Weigh In On Principal Real Estate Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of PGZ. Baird Financial Group Inc. purchased a new position in Principal Real Estate Income Fund during the second quarter valued at $123,000. Raymond James Financial Inc. boosted 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 worth $461,000 after acquiring an additional 19,095 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of 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 valued at $375,000 after purchasing an additional 1,118 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Principal Real Estate Income Fund during the 4th quarter valued at approximately $298,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in Principal Real Estate Income Fund during the fourth quarter valued at $827,000.

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.