Envestnet Asset Management Inc. Raises Position in Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

Envestnet Asset Management Inc. grew its position in Principal U.S. Mega-Cap ETF (NASDAQ:USMCFree Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,640,739 shares of the company’s stock after acquiring an additional 165,820 shares during the period. Envestnet Asset Management Inc. owned about 3.75% of Principal U.S. Mega-Cap ETF worth $76,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy CG LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at about $15,406,000. Raymond James & Associates boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 24.0% in the fourth quarter. Raymond James & Associates now owns 222,724 shares of the company’s stock valued at $10,415,000 after acquiring an additional 43,036 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 16.6% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 17,612 shares of the company’s stock valued at $754,000 after acquiring an additional 2,510 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at about $78,408,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 35.7% in the fourth quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock valued at $1,757,156,000 after acquiring an additional 9,881,752 shares in the last quarter.

Principal U.S. Mega-Cap ETF Stock Performance

USMC stock opened at $52.65 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52 week low of $40.73 and a 52 week high of $52.91. The company’s 50-day moving average price is $50.82 and its 200 day moving average price is $49.25.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, April 2nd were issued a dividend of $0.1548 per share. The ex-dividend date was Monday, April 1st.

About Principal U.S. Mega-Cap ETF

(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.

Further Reading

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Institutional Ownership by Quarter for Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

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