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

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw strong trading volume on Tuesday . 508,956 shares changed hands during 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 Stock Down 0.1 %

The firm has a market capitalization of $2.72 billion, a P/E ratio of 26.66 and a beta of 0.92. The company’s 50 day moving average is $61.17 and its 200-day moving average is $58.37.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Independent Advisor Alliance bought a new position in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at $230,000. Stifel Financial Corp bought a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at $237,000. Cornerstone Wealth Management LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at $274,000. Blair William & Co. IL lifted its stake in shares of Principal U.S. Mega-Cap ETF by 26.7% in the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock valued at $281,000 after buying an additional 986 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter valued at about $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.