Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares 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 stock has a market capitalization of $3.31 billion, a P/E ratio of 27.59 and a beta of 0.95. The stock’s fifty day moving average is $68.43 and its two-hundred day moving average is $68.08.

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 dividend of $0.1463 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.59 annualized dividend and a dividend yield of 0.8%. This is a boost from Principal U.S. Mega-Cap ETF’s previous quarterly dividend of $0.14.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Principal U.S. Mega-Cap ETF by 0.4% in 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 during the period. Principal Securities Inc. lifted its stake in Principal U.S. Mega-Cap ETF by 2.1% during the fourth quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after buying an additional 91,106 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Principal U.S. Mega-Cap ETF by 9.5% during the third quarter. Envestnet Asset Management Inc. now owns 4,176,141 shares of the company’s stock valued at $284,700,000 after buying an additional 361,890 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 6.6% in the fourth quarter. LPL Financial LLC now owns 1,404,127 shares of the company’s stock worth $96,112,000 after buying an additional 87,122 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth about $61,692,000.

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.