Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume After Dividend Announcement

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 92,151 shares were traded during trading, an increase of 7% from the previous session’s volume of 86,520 shares.The stock last traded at $56.43 and had previously closed at $56.78.

The newly announced dividend which will be paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st will be paid a $0.1323 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, April 1st.

Principal U.S. Mega-Cap ETF Stock Performance

The firm has a market capitalization of $2.51 billion, a PE ratio of 26.08 and a beta of 0.92. The stock has a fifty day moving average price of $59.91 and a 200-day moving average price of $59.26.

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

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

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.