Royal Bank of Canada Purchases 30,690 Shares of Principal U.S. Mega-Cap ETF $USMC

Royal Bank of Canada raised its holdings in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,374 shares of the company’s stock after buying an additional 30,690 shares during the period. Royal Bank of Canada owned about 0.26% of Principal U.S. Mega-Cap ETF worth $7,549,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of Principal U.S. Mega-Cap ETF by 0.8% during the 4th quarter. Stifel Financial Corp now owns 23,418 shares of the company’s stock worth $1,603,000 after acquiring an additional 184 shares during the last quarter. Advisory Services Network LLC grew its position in Principal U.S. Mega-Cap ETF by 3.1% in the 4th quarter. Advisory Services Network LLC now owns 7,117 shares of the company’s stock valued at $487,000 after acquiring an additional 212 shares during the last quarter. Equitable Holdings Inc. grew its position in Principal U.S. Mega-Cap ETF by 5.5% in the 4th quarter. Equitable Holdings Inc. now owns 4,476 shares of the company’s stock valued at $306,000 after acquiring an additional 234 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Principal U.S. Mega-Cap ETF by 6.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock valued at $337,000 after acquiring an additional 306 shares during the last quarter. Finally, Huntington National Bank purchased a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter worth $25,000.

Principal U.S. Mega-Cap ETF Trading Up 0.2%

NASDAQ:USMC opened at $76.46 on Tuesday. Principal U.S. Mega-Cap ETF has a twelve month low of $62.28 and a twelve month high of $76.96. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The stock has a fifty day simple moving average of $73.95 and a 200-day simple moving average of $70.24.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, July 1st were paid a $0.139 dividend. This represents a $0.56 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, July 1st.

Principal U.S. Mega-Cap ETF Company Profile

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.