Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 12-Month High – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $72.59 and last traded at $72.38, with a volume of 43595 shares changing hands. The stock had previously closed at $72.16.

Principal U.S. Mega-Cap ETF Trading Up 0.9%

The company has a 50 day moving average price of $67.47 and a 200-day moving average price of $67.88. The company has a market cap of $3.30 billion, a P/E ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Wednesday, April 1st were paid a $0.1463 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, April 1st. This is a positive change from Principal U.S. Mega-Cap ETF’s previous quarterly dividend of $0.14.

Hedge Funds Weigh In On Principal U.S. Mega-Cap ETF

A number of hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in Principal U.S. Mega-Cap ETF by 48.2% during the third quarter. Commonwealth Equity Services LLC now owns 110,699 shares of the company’s stock worth $7,547,000 after acquiring an additional 35,990 shares in the last quarter. Principal Financial Group Inc. raised its stake in Principal U.S. Mega-Cap ETF by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 37,449,019 shares of the company’s stock worth $2,552,553,000 after buying an additional 156,816 shares during the period. Elevation Capital Advisory LLC acquired a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter worth approximately $8,734,000. Ethos Financial Group LLC acquired a new position in Principal U.S. Mega-Cap ETF during the 4th quarter worth approximately $7,658,000. Finally, JPMorgan Chase & Co. boosted its stake in Principal U.S. Mega-Cap ETF by 45.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 48,225 shares of the company’s stock valued at $3,288,000 after purchasing an additional 14,996 shares during 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.