Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 12-Month High – Here’s What Happened

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.64 and last traded at $73.57, with a volume of 6049 shares traded. The stock had previously closed at $72.91.

Principal U.S. Mega-Cap ETF Price Performance

The business has a 50 day simple moving average of $68.43 and a 200 day simple moving average of $68.08. The stock has a market cap of $3.31 billion, a PE 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 issued a dividend of $0.1463 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.59 annualized dividend and a dividend yield of 0.8%. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USMC. Mercer Global Advisors Inc. ADV acquired a new stake in Principal U.S. Mega-Cap ETF in the third quarter valued at approximately $61,692,000. Envestnet Asset Management Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 9.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,176,141 shares of the company’s stock worth $284,700,000 after purchasing an additional 361,890 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $2,552,553,000 after purchasing an additional 156,816 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Principal U.S. Mega-Cap ETF by 45.6% during the 3rd quarter. NewEdge Advisors LLC now owns 459,273 shares of the company’s stock valued at $31,310,000 after purchasing an additional 143,807 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at $9,136,000.

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.