Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw an uptick in trading volume on Monday . 463,378 shares changed hands during trading, an increase of 415% from the previous session’s volume of 89,964 shares.The stock last traded at $51.51 and had previously closed at $51.53.

Principal U.S. Mega-Cap ETF Trading Up 0.0 %

The stock’s 50-day moving average price is $59.37 and its 200-day moving average price is $59.21. The company has a market capitalization of $2.27 billion, a P/E ratio of 26.08 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st were issued a $0.1323 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.53 dividend on an annualized basis and a yield of 1.03%.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. O Brien Wealth Partners LLC boosted its position in Principal U.S. Mega-Cap ETF by 16.0% during the 4th quarter. O Brien Wealth Partners LLC now owns 963,761 shares of the company’s stock valued at $57,855,000 after purchasing an additional 132,829 shares during the period. Raymond James Financial Inc. bought a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth about $40,822,000. LPL Financial LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 29.2% in the 4th quarter. LPL Financial LLC now owns 570,746 shares of the company’s stock worth $34,262,000 after acquiring an additional 128,838 shares during the period. Legacy CG LLC lifted its position in Principal U.S. Mega-Cap ETF by 10.9% in the 4th quarter. Legacy CG LLC now owns 301,450 shares of the company’s stock valued at $18,096,000 after purchasing an additional 29,583 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Principal U.S. Mega-Cap ETF by 46.5% during the 4th quarter. Wells Fargo & Company MN now owns 288,337 shares of the company’s stock valued at $17,309,000 after purchasing an additional 91,501 shares during the period.

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.