This is evidence that Hogan is on track to becoming Linda Lingle 2.0.
Hogan's very likely to lose, but one should not expect any substantial shifts in the race until late summer at the earliest. In the past in races like this, things are essentially static until after labor day. Then partisanship takes over and things shift rapidly.
This poll should not tell you that Alsobrooks or Trone is gaining on Hogan, it should tell you that maybe Hogan's initial lead is smaller. Or it could tell you nothing, since PPP has been caught fabricating results in the past and, although they have a cleaner recent track record, are definitely the type of firm to put their thumb on the scale in any way their sponsor likes.