NewEdge Advisors LLC Trims Stake in Principal U.S. Mega-Cap ETF $USMC

NewEdge Advisors LLC cut its stake in Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Free Report) by 67.9% in the first quarter, HoldingsChannel reports. The fund owned 100,514 shares of the company’s stock after selling 213,026 shares during the period. NewEdge Advisors LLC’s holdings in Principal U.S. Mega-Cap ETF were worth $6,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter valued at approximately $25,000. Parallel Advisors LLC acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at $26,000. Abound Financial LLC acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at $29,000. Fifth Third Bancorp purchased a new stake in Principal U.S. Mega-Cap ETF during the first quarter worth $80,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the fourth quarter worth $147,000.

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Principal U.S. Mega-Cap ETF Stock Performance

USMC stock opened at $73.79 on Friday. The firm has a market cap of $3.56 billion, a PE ratio of 27.59 and a beta of 0.95. The firm’s fifty day moving average is $73.66 and its 200 day moving average is $69.86. Principal U.S. Mega-Cap ETF has a one year low of $61.92 and a one year high of $75.00.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.139 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, July 1st.

Principal U.S. Mega-Cap ETF Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding USMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Free Report).

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