Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Large Volume Increase – Still a Buy?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-high trading volume on Monday . Approximately 112,926 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 130,721 shares.The stock last traded at $59.99 and had previously closed at $60.26.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $2.72 billion, a PE ratio of 26.55 and a beta of 0.92. The company has a 50 day moving average price of $56.39 and a two-hundred day moving average price of $58.99.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st were given a $0.1323 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, April 1st.

Institutional Trading of Principal U.S. Mega-Cap ETF

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter worth approximately $40,822,000. LPL Financial LLC raised its stake in Principal U.S. Mega-Cap ETF by 38.7% during the 1st quarter. LPL Financial LLC now owns 791,637 shares of the company’s stock valued at $44,949,000 after buying an additional 220,891 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 107.4% during the 1st quarter. Golden State Wealth Management LLC now owns 383,198 shares of the company’s stock valued at $21,758,000 after buying an additional 198,409 shares during the period. Orion Portfolio Solutions LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter valued at $8,728,000. Finally, O Brien Wealth Partners LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 16.0% in the 4th quarter. O Brien Wealth Partners LLC now owns 963,761 shares of the company’s stock worth $57,855,000 after buying an additional 132,829 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.