Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 1-Year High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high on Tuesday . The stock traded as high as $73.64 and last traded at $73.57, with a volume of 6049 shares trading hands. The stock had previously closed at $72.91.

Principal U.S. Mega-Cap ETF Price Performance

The company has a fifty day simple moving average of $68.74 and a two-hundred day simple moving average of $68.16. The company has a market capitalization of $3.34 billion, a P/E ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Wednesday, April 1st were paid a $0.1463 dividend. The ex-dividend date was Wednesday, April 1st. This is a boost from Principal U.S. Mega-Cap ETF’s previous quarterly dividend of $0.14. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.8%.

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

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of Principal U.S. Mega-Cap ETF by 42.8% in the first quarter. Bank of America Corp DE now owns 12,245 shares of the company’s stock worth $788,000 after purchasing an additional 3,668 shares during the period. Royal Bank of Canada increased its stake in shares of Principal U.S. Mega-Cap ETF by 35.4% in the first quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock worth $7,549,000 after purchasing an additional 30,690 shares during the period. Symphony Financial Services Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 6.1% in the first quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock worth $15,603,000 after purchasing an additional 13,925 shares during the period. Parallel Advisors LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the first quarter worth about $26,000. Finally, Citizens Financial Group Inc. RI increased its stake in shares of Principal U.S. Mega-Cap ETF by 2.9% in the first quarter. Citizens Financial Group Inc. RI now owns 16,198 shares of the company’s stock worth $1,042,000 after purchasing an additional 464 shares during the period.

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.