Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Here’s Why

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw strong trading volume on Tuesday . 508,956 shares traded hands during mid-day trading, an increase of 428% from the previous session’s volume of 96,403 shares.The stock last traded at $62.88 and had previously closed at $63.00.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $2.72 billion, a PE ratio of 26.66 and a beta of 0.92. The firm’s 50 day moving average price is $61.17 and its two-hundred day moving average price is $58.37.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

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

A number of large investors have recently modified their holdings of the company. Independent Advisor Alliance bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter valued at approximately $230,000. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF during the third quarter valued at approximately $237,000. Cornerstone Wealth Management LLC bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter valued at approximately $274,000. Blair William & Co. IL lifted its position 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 valued at $281,000 after purchasing an additional 986 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter valued at approximately $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.