Northwestern Mutual Wealth Management Co. Boosts Stake in Principal U.S. Mega-Cap ETF $USMC

Northwestern Mutual Wealth Management Co. lifted its position in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 68.9% during the 4th quarter, HoldingsChannel reports. The fund owned 31,397 shares of the company’s stock after purchasing an additional 12,803 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Principal U.S. Mega-Cap ETF were worth $2,149,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Principal U.S. Mega-Cap ETF by 6.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock worth $337,000 after acquiring an additional 306 shares in the last quarter. Huntington National Bank acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth about $25,000. PMG Wealth Management Inc. raised its position in shares of Principal U.S. Mega-Cap ETF by 1.3% during the 4th quarter. PMG Wealth Management Inc. now owns 33,438 shares of the company’s stock worth $2,289,000 after purchasing an additional 431 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 9.4% during the 4th quarter. HighTower Advisors LLC now owns 5,274 shares of the company’s stock worth $361,000 after purchasing an additional 455 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Principal U.S. Mega-Cap ETF by 18.7% during the 4th quarter. Assetmark Inc. now owns 3,164 shares of the company’s stock worth $217,000 after purchasing an additional 499 shares during the last quarter.

Principal U.S. Mega-Cap ETF Stock Down 2.3%

USMC opened at $72.53 on Friday. Principal U.S. Mega-Cap ETF has a twelve month low of $60.04 and a twelve month high of $74.78. The company has a 50-day moving average price of $70.01 and a 200 day moving average price of $68.43. The company has a market cap of $3.27 billion, a PE ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Increases Dividend

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

Principal U.S. Mega-Cap ETF Company Profile

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.