Principal Financial Group Inc. Increases Stake in Principal U.S. Small-Cap Multi-Factor ETF $PSC

Principal Financial Group Inc. increased its stake in Principal U.S. Small-Cap Multi-Factor ETF (NASDAQ:PSC) by 6.9% in the first quarter, Holdings Channel reports. The firm owned 12,549,404 shares of the company’s stock after purchasing an additional 814,741 shares during the period. Principal Financial Group Inc. owned about 0.40% of Principal U.S. Small-Cap Multi-Factor ETF worth $719,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PSC. Principal Securities Inc. raised its holdings in shares of Principal U.S. Small-Cap Multi-Factor ETF by 4.5% in the fourth quarter. Principal Securities Inc. now owns 2,319,425 shares of the company’s stock worth $133,900,000 after buying an additional 99,982 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Principal U.S. Small-Cap Multi-Factor ETF during the third quarter valued at $75,388,000. Wells Fargo & Company MN increased its position in shares of Principal U.S. Small-Cap Multi-Factor ETF by 39.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,030,728 shares of the company’s stock valued at $59,504,000 after acquiring an additional 289,331 shares during the period. LPL Financial LLC increased its position in shares of Principal U.S. Small-Cap Multi-Factor ETF by 58.0% in the 4th quarter. LPL Financial LLC now owns 810,402 shares of the company’s stock valued at $46,785,000 after acquiring an additional 297,560 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Principal U.S. Small-Cap Multi-Factor ETF by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 796,011 shares of the company’s stock worth $47,530,000 after acquiring an additional 7,655 shares during the last quarter.

Principal U.S. Small-Cap Multi-Factor ETF Stock Performance

Shares of PSC opened at $67.96 on Tuesday. The stock has a 50-day moving average of $66.40 and a two-hundred day moving average of $62.15. The stock has a market cap of $2.28 billion, a P/E ratio of 17.29 and a beta of 1.00. Principal U.S. Small-Cap Multi-Factor ETF has a one year low of $51.34 and a one year high of $70.56.

Principal U.S. Small-Cap Multi-Factor ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, July 1st were issued a dividend of $0.0868 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.5%.

Principal U.S. Small-Cap Multi-Factor ETF Profile

The Principal U.S. Small-Cap Multi-Factor ETF (PSC) is an exchange-traded fund that is based on the Russell 2000 index. The fund is actively managed to invest in small-cap US companies. The fund uses a proprietary, quantitative model to construct the portfolio. PSC was launched on Sep 21, 2016 and is managed by Principal.