Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Large Volume Increase Following Dividend Announcement

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw an uptick in trading volume on Tuesday after the company announced a dividend. 92,151 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 86,520 shares.The stock last traded at $56.43 and had previously closed at $56.78.

The newly announced dividend which will be paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st will be issued a $0.1323 dividend. This represents a $0.53 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, April 1st.

Principal U.S. Mega-Cap ETF Stock Up 0.7 %

The firm has a 50-day simple moving average of $59.91 and a 200-day simple moving average of $59.26. The stock has a market cap of $2.51 billion, a PE ratio of 26.08 and a beta of 0.92.

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 USMC. Independent Advisor Alliance purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth about $230,000. Stifel Financial Corp bought a new position in shares of Principal U.S. Mega-Cap ETF during the third quarter valued at about $237,000. Cornerstone Wealth Management LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF in the fourth quarter worth about $274,000. Blair William & Co. IL lifted its position in Principal U.S. Mega-Cap ETF by 26.7% in the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock valued at $281,000 after purchasing an additional 986 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the 4th quarter valued at $324,000.

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.