Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-high trading volume on Tuesday . Approximately 143,619 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 94,186 shares.The stock last traded at $55.64 and had previously closed at $55.23.

Principal U.S. Mega-Cap ETF Stock Performance

The stock’s fifty day simple moving average is $58.22 and its 200-day simple moving average is $59.05. The stock has a market cap of $2.46 billion, a P/E ratio of 26.08 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st were given a dividend of $0.1323 per share. This represents a $0.53 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Tuesday, April 1st.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance bought a new position in shares of Principal U.S. Mega-Cap ETF in the fourth quarter worth $230,000. Stifel Financial Corp acquired a new stake in Principal U.S. Mega-Cap ETF during the third quarter worth about $237,000. Cornerstone Wealth Management LLC bought a new position in Principal U.S. Mega-Cap ETF in the 4th quarter valued at about $274,000. Blair William & Co. IL raised its position in shares of Principal U.S. Mega-Cap ETF by 26.7% in the 4th quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock valued at $281,000 after buying an additional 986 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth approximately $324,000.

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.