Principal Real Estate Income Fund (NYSE:PGZ) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Principal Real Estate Income Fund (NYSE:PGZ) shares crossed 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 changing hands.

Principal Real Estate Income Fund Stock Up 0.0%

The stock’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $10.11.

Principal Real Estate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given 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 yield of 12.3%.

Institutional Investors Weigh In On Principal Real Estate Income Fund

Several hedge funds have recently added to or reduced their stakes in the company. Closed End Fund Advisors Inc. bought a new stake in Principal Real Estate Income Fund in the 4th quarter worth $827,000. Evolve Private Wealth LLC bought a new stake in shares of Principal Real Estate Income Fund during the fourth quarter valued at approximately $710,000. Guggenheim Capital LLC purchased a new stake in shares of Principal Real Estate Income Fund in the 4th quarter worth about $422,000. Shaker Financial Services LLC grew its holdings in Principal Real Estate Income Fund by 272.9% in the fourth quarter. Shaker Financial Services LLC now owns 50,826 shares of the company’s stock worth $509,000 after purchasing an additional 37,197 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Principal Real Estate Income Fund during the fourth quarter valued at $298,000.

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.