Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 52-Week High at $56.09

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $56.09 and last traded at $55.91, with a volume of 115938 shares trading hands. The stock had previously closed at $55.89.

Principal U.S. Mega-Cap ETF Stock Performance

The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The business has a 50 day simple moving average of $54.51 and a 200-day simple moving average of $52.62.

Principal U.S. Mega-Cap ETF Increases Dividend

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

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates grew its holdings in shares of Principal U.S. Mega-Cap ETF by 3.8% in the second quarter. Raymond James & Associates now owns 244,868 shares of the company’s stock valued at $13,284,000 after acquiring an additional 8,872 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Principal U.S. Mega-Cap ETF by 100.3% in the fourth quarter. Wells Fargo & Company MN now owns 219,096 shares of the company’s stock valued at $10,245,000 after acquiring an additional 109,730 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Principal U.S. Mega-Cap ETF by 11.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,640,739 shares of the company’s stock valued at $76,721,000 after acquiring an additional 165,820 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the first quarter valued at approximately $1,116,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the first quarter valued at approximately $18,054,000.

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.