Richmond Investment Services LLC Invests $927,000 in Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

Richmond Investment Services LLC purchased a new stake in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,443 shares of the company’s stock, valued at approximately $927,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of USMC. Janney Montgomery Scott LLC boosted its stake 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 in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Principal U.S. Mega-Cap ETF in the fourth quarter worth $274,000. Capital Investment Advisory Services LLC boosted its stake in Principal U.S. Mega-Cap ETF by 81.2% in the fourth quarter. Capital Investment Advisory Services LLC now owns 6,252 shares of the company’s stock worth $375,000 after purchasing an additional 2,801 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF in the fourth quarter worth $593,000. Finally, Jackson Wealth Management LLC boosted its stake in Principal U.S. Mega-Cap ETF by 26.5% in the fourth quarter. Jackson Wealth Management LLC now owns 99,557 shares of the company’s stock worth $5,976,000 after purchasing an additional 20,836 shares in the last quarter.

Principal U.S. Mega-Cap ETF Stock Down 0.8%

Shares of USMC opened at $58.74 on Friday. Principal U.S. Mega-Cap ETF has a 12-month low of $49.01 and a 12-month high of $63.13. The firm has a market capitalization of $2.66 billion, a PE ratio of 26.55 and a beta of 0.92. The stock’s fifty day simple moving average is $56.52 and its 200-day simple moving average is $59.02.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st were paid a $0.1323 dividend. This represents a $0.53 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, April 1st.

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.