Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Large Volume Increase After Dividend Announcement

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw strong trading volume on Tuesday after the company announced a dividend. 92,151 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 86,520 shares.The stock last traded at $56.43 and had previously closed at $56.78.

The newly announced dividend which will be paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st will be paid a $0.1323 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.53 dividend on an annualized basis and a yield of 0.92%.

Principal U.S. Mega-Cap ETF Stock Up 0.7 %

The stock’s 50 day moving average price is $59.91 and its 200-day moving average price is $59.26. The stock has a market capitalization of $2.51 billion, a PE ratio of 26.08 and a beta of 0.92.

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

Several large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp bought a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter valued at approximately $237,000. EP Wealth Advisors LLC bought a new stake in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $7,489,000. SeaCrest Wealth Management LLC bought a new stake in Principal U.S. Mega-Cap ETF during the 4th quarter valued at $1,472,000. Segment Wealth Management LLC lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 0.9% in the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after buying an additional 2,221 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Principal U.S. Mega-Cap ETF by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock worth $1,282,000 after buying an additional 462 shares in the last quarter.

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.