Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw strong trading volume on Tuesday . 143,619 shares traded hands during trading, an increase of 52% from the previous session’s volume of 94,186 shares.The stock last traded at $55.64 and had previously closed at $55.23.

Principal U.S. Mega-Cap ETF Stock Performance

The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 26.08 and a beta of 0.92. The firm’s 50 day moving average is $57.91 and its 200-day moving average is $58.99.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st were issued a $0.1323 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $0.53 dividend on an annualized basis and a yield of 0.98%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance purchased a new stake in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $230,000. Stifel Financial Corp acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter worth about $237,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at approximately $274,000. Blair William & Co. IL lifted its stake in Principal U.S. Mega-Cap ETF by 26.7% during the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock worth $281,000 after purchasing an additional 986 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at $324,000.

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.