Principal Real Estate Income Fund (NYSE:PGZ) Stock Price Down 0.5% – Here’s Why

Principal Real Estate Income Fund (NYSE:PGZ)’s share price dropped 0.5% during trading on Wednesday . The stock traded as low as $10.04 and last traded at $10.0750. Approximately 19,503 shares changed hands during trading, a decline of 32% from the average daily volume of 28,727 shares. The stock had previously closed at $10.13.

Principal Real Estate Income Fund Trading Down 0.5%

The firm has a 50-day moving average of $10.39 and a two-hundred day moving average of $10.42.

Principal Real Estate Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be paid a $0.105 dividend. This represents a c) annualized dividend and a dividend yield of 12.5%. The ex-dividend date is Thursday, January 15th.

Insider Transactions at Principal Real Estate Income Fund

In other news, insider Laton Spahr purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $10.35 per share, for a total transaction of $103,500.00. Following the completion of the transaction, the insider owned 35,627 shares in the company, valued at $368,739.45. This represents a 39.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Principal Real Estate Income Fund

Several hedge funds have recently modified their holdings of PGZ. Advisors Asset Management Inc. purchased a new position in shares of Principal Real Estate Income Fund in the 3rd quarter valued at about $1,583,000. Riverbridge Partners LLC boosted its position in Principal Real Estate Income Fund by 2.5% during the third quarter. Riverbridge Partners LLC now owns 144,972 shares of the company’s stock worth $1,516,000 after purchasing an additional 3,600 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in Principal Real Estate Income Fund by 13.9% in the third quarter. J.W. Cole Advisors Inc. now owns 112,130 shares of the company’s stock valued at $1,173,000 after purchasing an additional 13,677 shares during the period. Raymond James Financial Inc. increased its position in shares of Principal Real Estate Income Fund by 12.0% in the third quarter. Raymond James Financial Inc. now owns 49,062 shares of the company’s stock valued at $513,000 after buying an additional 5,265 shares in the last quarter. Finally, NWF Advisory Services Inc. increased its position in shares of Principal Real Estate Income Fund by 7.9% in the third quarter. NWF Advisory Services Inc. now owns 48,000 shares of the company’s stock valued at $502,000 after buying an additional 3,500 shares in the last quarter.

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.