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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw unusually-high trading volume on Friday . Approximately 360,965 shares were traded during trading, an increase of 402% from the previous session’s volume of 71,930 shares.The stock last traded at $62.64 and had previously closed at $62.08.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a 50-day moving average of $60.64 and a 200 day moving average of $57.62. The company has a market cap of $2.68 billion, a P/E ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. O Brien Wealth Partners LLC boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 132.9% in the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock valued at $47,355,000 after purchasing an additional 474,173 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Principal U.S. Mega-Cap ETF in the fourth quarter valued at about $11,093,000. EP Wealth Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF during the third quarter worth about $7,489,000. Principal Securities Inc. lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 2.0% in the third quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock worth $251,398,000 after acquiring an additional 86,008 shares during the last quarter. Finally, Jackson Wealth Management LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after purchasing an additional 30,714 shares in the last quarter.

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.