Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Here’s What Happened

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $75.06 and last traded at $75.05, with a volume of 28072 shares. The stock had previously closed at $74.11.

Principal U.S. Mega-Cap ETF Stock Up 1.3%

The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The company has a 50 day moving average of $73.69 and a 200 day moving average of $69.90.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were issued a $0.139 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.56 annualized dividend and a yield of 0.7%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 45.6% during the third quarter. NewEdge Advisors LLC now owns 459,273 shares of the company’s stock worth $31,310,000 after purchasing an additional 143,807 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the 4th quarter worth $9,136,000. Ethos Financial Group LLC acquired a new position in Principal U.S. Mega-Cap ETF in the 4th quarter worth $7,658,000. Principal Securities Inc. boosted its position in Principal U.S. Mega-Cap ETF by 2.1% in the 4th quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after buying an additional 91,106 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Principal U.S. Mega-Cap ETF by 6.6% in the 4th quarter. LPL Financial LLC now owns 1,404,127 shares of the company’s stock valued at $96,112,000 after buying an additional 87,122 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.