Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High at $55.09

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high on Friday . The stock traded as high as $55.09 and last traded at $55.09, with a volume of 3426 shares trading hands. The stock had previously closed at $54.98.

Principal U.S. Mega-Cap ETF Stock Performance

The firm has a fifty day moving average price of $52.37 and a two-hundred day moving average price of $50.33. The stock has a market capitalization of $2.49 billion, a P/E ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, July 1st were issued a dividend of $0.1596 per share. This is a boost from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15. The ex-dividend date was Monday, July 1st.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 35.7% in the 4th quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock worth $1,757,156,000 after purchasing an additional 9,881,752 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter worth $78,408,000. O Brien Wealth Partners LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 1st quarter worth $18,054,000. Legacy CG LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter worth $15,406,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 11.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,640,739 shares of the company’s stock worth $76,721,000 after purchasing an additional 165,820 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.