Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-strong trading volume on Tuesday . Approximately 508,956 shares were traded during trading, an increase of 428% from the previous session’s volume of 96,403 shares.The stock last traded at $62.88 and had previously closed at $63.00.

Principal U.S. Mega-Cap ETF Price Performance

The firm has a market capitalization of $2.70 billion, a PE ratio of 26.66 and a beta of 0.92. The business’s 50-day moving average price is $61.25 and its 200-day moving average price is $58.47.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 31st were given a dividend of $0.00 per share. The ex-dividend date was Tuesday, December 31st.

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

A number of hedge funds have recently modified their holdings of USMC. Raymond James Financial Inc. purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth approximately $40,822,000. O Brien Wealth Partners LLC grew its position in shares of Principal U.S. Mega-Cap ETF by 132.9% during the third quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock worth $47,355,000 after acquiring an additional 474,173 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $11,093,000. Orion Portfolio Solutions LLC purchased a new position in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $8,728,000. Finally, EP Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at $7,489,000.

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.