Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 12-Month High at $56.07

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during trading on Friday . The company traded as high as $56.07 and last traded at $56.05, with a volume of 19673 shares changing hands. The stock had previously closed at $55.42.

Principal U.S. Mega-Cap ETF Trading Up 1.1 %

The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The company’s 50 day moving average is $54.39 and its 200 day moving average is $52.25.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, July 1st were issued a $0.1596 dividend. This is an increase from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, July 1st.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in USMC. Northwestern Mutual Wealth Management Co. grew its position in shares of Principal U.S. Mega-Cap ETF by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after acquiring an additional 525 shares during the last quarter. NewEdge Advisors LLC grew its position in Principal U.S. Mega-Cap ETF by 0.8% during the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after purchasing an additional 2,204 shares during the last quarter. Blair William & Co. IL acquired a new position in Principal U.S. Mega-Cap ETF in the second quarter valued at $201,000. Envestnet Asset Management Inc. raised its holdings in shares of Principal U.S. Mega-Cap ETF by 14.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock valued at $228,485,000 after buying an additional 529,078 shares during the last quarter. Finally, Laidlaw Wealth Management LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 9.1% during the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after buying an additional 809 shares during the period.

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.