Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 1-Year High at $56.09

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.09 and last traded at $55.91, with a volume of 115938 shares changing hands. The stock had previously closed at $55.89.

Principal U.S. Mega-Cap ETF Stock Performance

The company’s 50-day moving average price is $54.54 and its 200 day moving average price is $52.72. The stock has a market capitalization of $2.44 billion, a PE ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, July 1st were issued a $0.1596 dividend. The ex-dividend date was Monday, July 1st. This is a positive change from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

Hedge funds have recently made changes to their positions in the company. Capital Investment Advisory Services LLC bought a new stake in Principal U.S. Mega-Cap ETF during the first quarter worth about $50,000. Blair William & Co. IL purchased a new position in shares of Principal U.S. Mega-Cap ETF during the second quarter valued at approximately $201,000. CreativeOne Wealth LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the first quarter valued at approximately $522,000. Laidlaw Wealth Management LLC boosted its position in shares of Principal U.S. Mega-Cap ETF by 9.1% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after purchasing an additional 809 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Principal U.S. Mega-Cap ETF by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after buying an additional 525 shares during the last quarter.

Principal U.S. Mega-Cap ETF Company Profile

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.