Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 1-Year High at $54.81

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $54.81 and last traded at $54.81, with a volume of 2991 shares. The stock had previously closed at $54.30.

Principal U.S. Mega-Cap ETF Stock Down 0.1 %

The firm has a market capitalization of $2.41 billion, a PE ratio of 26.66 and a beta of 0.92. The firm’s fifty day simple moving average is $51.95 and its 200-day simple moving average is $50.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, April 2nd were issued a $0.1548 dividend. The ex-dividend date of this dividend was Monday, April 1st.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in shares of Principal U.S. Mega-Cap ETF by 35.7% during the fourth quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock valued at $1,757,156,000 after purchasing an additional 9,881,752 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter valued at approximately $78,408,000. Envestnet Asset Management Inc. raised its holdings in shares of Principal U.S. Mega-Cap ETF by 11.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,640,739 shares of the company’s stock valued at $76,721,000 after purchasing an additional 165,820 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Principal U.S. Mega-Cap ETF by 25.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 431,853 shares of the company’s stock valued at $22,180,000 after purchasing an additional 88,479 shares during the last quarter. Finally, Legacy CG LLC raised its holdings in shares of Principal U.S. Mega-Cap ETF by 10.0% during the first quarter. Legacy CG LLC now owns 362,439 shares of the company’s stock valued at $18,615,000 after purchasing an additional 32,978 shares during the last quarter.

About Principal U.S. Mega-Cap ETF

The Principal U.S. Mega-Cap ETF (USMC) is an exchange-traded fund that mostly invests in large cap equity. The fund is actively managed to offer exposure to the largest of the US large-cap segment. The fund uses a proprietary, quantitative model to construct the portfolio. USMC was launched on Oct 12, 2017 and is managed by Principal.