Envestnet Asset Management Inc. Cuts Holdings in Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

Envestnet Asset Management Inc. reduced its position in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,225,392 shares of the company’s stock after selling 59,352 shares during the period. Envestnet Asset Management Inc. owned 9.76% of Principal U.S. Mega-Cap ETF worth $253,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in shares of Principal U.S. Mega-Cap ETF in the 3rd quarter worth about $237,000. EP Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF in the third quarter worth about $7,489,000. SeaCrest Wealth Management LLC bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter worth approximately $1,472,000. Segment Wealth Management LLC raised its position in Principal U.S. Mega-Cap ETF by 0.9% during the fourth quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock valued at $15,218,000 after purchasing an additional 2,221 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock valued at $1,282,000 after purchasing an additional 462 shares during the last quarter.

Principal U.S. Mega-Cap ETF Stock Performance

NASDAQ USMC opened at $51.53 on Friday. The business’s 50 day moving average price is $59.56 and its 200-day moving average price is $59.22. Principal U.S. Mega-Cap ETF has a fifty-two week low of $48.52 and a fifty-two week high of $63.13. The company has a market cap of $2.26 billion, a P/E ratio of 26.08 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders 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 1.03%. The ex-dividend date was Tuesday, April 1st.

Principal U.S. Mega-Cap ETF 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.