Short Interest in Principal Real Estate Income Fund (NYSE:PGZ) Grows By 1,170.6%

Principal Real Estate Income Fund (NYSE:PGZ) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 21,600 shares, a growth of 1,170.6% from the January 31st total of 1,700 shares. Based on an average daily volume of 35,500 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in shares of Principal Real Estate Income Fund by 89.4% during the fourth quarter. Cetera Investment Advisers now owns 19,849 shares of the company’s stock valued at $196,000 after acquiring an additional 9,370 shares in the last quarter. First Trust Advisors LP grew its position in Principal Real Estate Income Fund by 4.6% in the 4th quarter. First Trust Advisors LP now owns 38,321 shares of the company’s stock valued at $379,000 after purchasing an additional 1,688 shares during the period. Raymond James Financial Inc. bought a new stake in Principal Real Estate Income Fund during the 4th quarter valued at $336,000. Bulldog Investors LLP raised its holdings in Principal Real Estate Income Fund by 103.0% during the fourth quarter. Bulldog Investors LLP now owns 369,396 shares of the company’s stock worth $3,651,000 after buying an additional 187,471 shares during the last quarter. Finally, Shaker Financial Services LLC raised its holdings in Principal Real Estate Income Fund by 78.4% during the fourth quarter. Shaker Financial Services LLC now owns 52,041 shares of the company’s stock worth $514,000 after buying an additional 22,868 shares during the last quarter.

Principal Real Estate Income Fund Trading Up 0.5 %

PGZ traded up $0.05 during midday trading on Friday, hitting $10.59. The company had a trading volume of 9,817 shares, compared to its average volume of 33,093. The stock’s 50 day moving average price is $10.18 and its 200 day moving average price is $10.59. Principal Real Estate Income Fund has a 52 week low of $9.46 and a 52 week high of $11.31.

Principal Real Estate Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.105 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 11.90%. The ex-dividend date of this dividend is Monday, March 17th.

About Principal Real Estate Income Fund

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.