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

CBRE Global Real Estate Income Fund (NYSE:IGRGet Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 147,100 shares, a growth of 461.5% from the April 30th total of 26,200 shares. Based on an average trading volume of 361,400 shares, the days-to-cover ratio is currently 0.4 days.

In other news, CEO Joseph P. Smith purchased 3,649 shares of the stock in a transaction dated Monday, March 14th. The stock was acquired at an average cost of $8.23 per share, for a total transaction of $30,031.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie E. Greis purchased 24,238 shares of the stock in a transaction dated Tuesday, March 15th. The shares were purchased at an average price of $8.20 per share, with a total value of $198,751.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 33,226 shares of company stock valued at $272,033 over the last 90 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley boosted its position in shares of CBRE Global Real Estate Income Fund by 15.8% in the second quarter. Morgan Stanley now owns 3,249,843 shares of the closed-end fund’s stock worth $28,631,000 after acquiring an additional 444,471 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of CBRE Global Real Estate Income Fund by 16.6% in the fourth quarter. Advisors Asset Management Inc. now owns 1,506,291 shares of the closed-end fund’s stock worth $14,747,000 after acquiring an additional 214,327 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in shares of CBRE Global Real Estate Income Fund in the first quarter worth approximately $1,545,000. UBS Group AG lifted its position in CBRE Global Real Estate Income Fund by 4.2% during the first quarter. UBS Group AG now owns 3,776,079 shares of the closed-end fund’s stock valued at $34,136,000 after buying an additional 153,681 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in CBRE Global Real Estate Income Fund by 4.7% during the fourth quarter. Bank of America Corp DE now owns 3,134,694 shares of the closed-end fund’s stock valued at $30,689,000 after buying an additional 139,848 shares in the last quarter.

Shares of NYSE IGR traded up $0.19 during midday trading on Friday, reaching $8.02. 240,498 shares of the stock were exchanged, compared to its average volume of 362,442. CBRE Global Real Estate Income Fund has a 52-week low of $7.45 and a 52-week high of $9.89. The stock has a 50 day moving average price of $8.48 and a 200-day moving average price of $8.75.

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Friday, May 20th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, May 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.98%.

CBRE Global Real Estate Income Fund Company Profile (Get Rating)

CBRE Clarion Global Real Estate Income Fund specializes in investments in various property types, including office, retail, diversified, apartments, industrials, hotels, healthcare, and storage. It invests in the public equity markets across the developed markets of North America, Europe, Australia, and Asia.

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