Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – Here’s Why

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $74.84 and last traded at $74.67, with a volume of 29085 shares. The stock had previously closed at $74.20.

Principal U.S. Mega-Cap ETF Stock Up 0.2%

The company has a market cap of $3.59 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The company has a fifty day simple moving average of $73.40 and a two-hundred day simple moving average of $69.46.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, July 1st were given a $0.139 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.7%.

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

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF during the first quarter worth about $26,000. Bank of America Corp DE grew its position in shares of Principal U.S. Mega-Cap ETF by 42.8% in the first quarter. Bank of America Corp DE now owns 12,245 shares of the company’s stock valued at $788,000 after purchasing an additional 3,668 shares during the last quarter. Royal Bank of Canada grew its position in shares of Principal U.S. Mega-Cap ETF by 35.4% in the first quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock valued at $7,549,000 after purchasing an additional 30,690 shares during the last quarter. Symphony Financial Services Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 6.1% during the 1st quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock worth $15,603,000 after purchasing an additional 13,925 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its stake in shares of Principal U.S. Mega-Cap ETF by 2.9% during the 1st quarter. Citizens Financial Group Inc. RI now owns 16,198 shares of the company’s stock worth $1,042,000 after purchasing an additional 464 shares in the last quarter.

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.