Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – What’s Next?

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

Principal U.S. Mega-Cap ETF Stock Performance

The firm’s fifty day simple moving average is $67.24 and its 200-day simple moving average is $67.81. The stock has a market cap of $3.26 billion, a P/E ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Increases Dividend

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

Institutional Trading of Principal U.S. Mega-Cap ETF

Several hedge funds have recently modified their holdings of the stock. Symphony Financial Services Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 6.1% in the 1st quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock valued at $15,603,000 after acquiring an additional 13,925 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at $26,000. Citizens Financial Group Inc. RI increased its stake in shares of Principal U.S. Mega-Cap ETF by 2.9% in the 1st quarter. Citizens Financial Group Inc. RI now owns 16,198 shares of the company’s stock valued at $1,042,000 after acquiring an additional 464 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at $80,000. Finally, Greenwood Capital Associates LLC increased its stake in shares of Principal U.S. Mega-Cap ETF by 14.8% in the 1st quarter. Greenwood Capital Associates LLC now owns 35,210 shares of the company’s stock valued at $2,264,000 after acquiring an additional 4,552 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.