CBRE Global Real Estate Income Fund (NYSE:IGR) Brief Interest Update


CBRE Global Real Estate Income Fund (NYSE: IGRGet a rating) was the target of a significant drop in short interest during the month of April. As of April 15, there was short interest totaling 159,700 shares, down 56.1% from the March 31 total of 363,600 shares. Based on an average trading volume of 361,900 shares, the day-to-cover ratio is currently 0.4 days.

In other news from the CBRE Global Real Estate Income Fund, CEO Joseph P. Smith acquired 3,649 shares of the company in a transaction that took place on Monday, March 14. The shares were purchased at an average cost of $8.23 per share, for a total transaction of $30,031.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, director Leslie E. Greis acquired 24,238 shares of the company in a transaction that took place on Tuesday, March 15. The shares were acquired at an average price of $8.20 per share, with a total value of $198,751.60. Disclosure of this purchase can be found here. Insiders bought 30,237 shares of the company valued at $248,161 during the last quarter.

Hedge funds have recently increased or reduced their stakes in the company. Reilly Financial Advisors LLC purchased a new stake in CBRE Global Real Estate Income Fund during the fourth quarter, valued at approximately $33,000. UMB Bank NA MO purchased a new stake in CBRE Global Real Estate Income Fund during the fourth quarter, valued at approximately $40,000. Gemmer Asset Management LLC increased its holdings in CBRE Global Real Estate Income Fund by 618.8% during the first quarter. Gemmer Asset Management LLC now owns 5,750 shares of the closed-end fund valued at $51,000 after acquiring an additional 4,950 shares during the period. Confluence Wealth Services Inc. acquired a new stake in CBRE Global Real Estate Income Fund during the fourth quarter, valued at approximately $56,000. Finally, Ahrens Investment Partners LLC purchased a new stake in CBRE Global Real Estate Income Fund during the fourth quarter, valued at approximately $57,000.

Stock IGR traded down $0.23 during Friday’s midday session, hitting $8.44. 444,970 shares of the stock traded in hands, compared to its average volume of 358,375. The CBRE Global Real Estate Income Fund has a 52-week low of $7.66 and a 52-week high of $9.89. The company has a 50-day moving average of $8.59 and a 200-day moving average of $8.88.

The company also recently declared a monthly dividend, which was paid on Friday, April 29. Shareholders of record on Wednesday, April 20 received a dividend of $0.06 per share. This represents a dividend of $0.72 on an annualized basis and a yield of 8.53%. The ex-dividend date was Tuesday, April 19.

About CBRE Global Real Estate Income Fund (Get a rating)

CBRE Clarion Global Real Estate Income Fund specializes in investing in a variety of property types including office, retail, diversified buildings, apartments, industrial, hotel, healthcare and warehouse. It invests in stock markets in developed markets in North America, Europe, Australia and Asia.

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