Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw strong trading volume on Wednesday . 140,155 shares changed hands during trading, an increase of 72% from the previous session’s volume of 81,521 shares.The stock last traded at $55.53 and had previously closed at $55.41.

Principal U.S. Mega-Cap ETF Price Performance

The business has a 50-day simple moving average of $52.71 and a two-hundred day simple moving average of $50.56. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

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

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

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased 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 worth $1,757,156,000 after buying an additional 9,881,752 shares in the last quarter. Principal Securities Inc. bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter valued at $78,408,000. O Brien Wealth Partners LLC bought a new stake in Principal U.S. Mega-Cap ETF during the first quarter valued at $18,054,000. Legacy CG LLC bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter valued at $15,406,000. Finally, Envestnet Asset Management Inc. boosted its position in 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 acquiring an additional 165,820 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.