Principal Real Estate Income Fund (NYSE:PGZ) Trading Up 0.7% – Time to Buy?

Principal Real Estate Income Fund (NYSE:PGZ) shares shot up 0.7% on Wednesday . The stock traded as high as $10.74 and last traded at $10.71. 8,730 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 24,042 shares. The stock had previously closed at $10.64.

Principal Real Estate Income Fund Stock Performance

The business’s 50 day moving average price is $10.83 and its 200-day moving average price is $10.58.

Principal Real Estate Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.105 per share. The ex-dividend date is Monday, December 16th. This represents a $1.26 annualized dividend and a yield of 11.76%.

Institutional Trading of Principal Real Estate Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC bought a new stake in Principal Real Estate Income Fund in the 3rd quarter valued at about $1,475,000. Sanctuary Advisors LLC bought a new stake in shares of Principal Real Estate Income Fund in the second quarter valued at approximately $411,000. J.W. Cole Advisors Inc. bought a new stake in shares of Principal Real Estate Income Fund in the third quarter valued at approximately $462,000. Shaker Financial Services LLC grew its position in Principal Real Estate Income Fund by 126.1% during the third 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 in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Principal Real Estate Income Fund during the 2nd quarter worth $44,000.

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.