Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-strong trading volume on Friday . Approximately 141,203 shares traded hands during mid-day trading, an increase of 118% from the previous session’s volume of 64,847 shares.The stock last traded at $60.65 and had previously closed at $59.93.

Principal U.S. Mega-Cap ETF Stock Performance

The company has a market capitalization of $2.61 billion, a P/E ratio of 26.66 and a beta of 0.92. The stock has a fifty day moving average of $60.17 and a 200 day moving average of $57.19.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 31st were paid a $0.00 dividend. The ex-dividend date was Tuesday, December 31st.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp bought a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth approximately $237,000. Jackson Wealth Management LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 64.0% during the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after purchasing an additional 30,714 shares during the period. Silver Oak Securities Incorporated purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $783,000. EP Wealth Advisors LLC bought a new position in Principal U.S. Mega-Cap ETF in the 3rd quarter worth $7,489,000. Finally, Raymond James & Associates raised its holdings in Principal U.S. Mega-Cap ETF by 3.2% during the third quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after acquiring an additional 7,744 shares during the period.

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.