Envestnet Asset Management Inc. Raises Stock Holdings in Principal Quality ETF (NASDAQ:PSET)

Envestnet Asset Management Inc. raised its stake in Principal Quality ETF (NASDAQ:PSET) by 23.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 299,625 shares of the company’s stock after acquiring an additional 56,637 shares during the period. Envestnet Asset Management Inc. owned approximately 42.80% of Principal Quality ETF worth $19,778,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. bought a new stake in Principal Quality ETF during the 1st quarter valued at approximately $262,000. Raymond James Financial Inc. purchased a new position in shares of Principal Quality ETF in the 4th quarter worth approximately $441,000. Capital Investment Advisory Services LLC boosted its holdings in shares of Principal Quality ETF by 307.0% in the 1st quarter. Capital Investment Advisory Services LLC now owns 6,524 shares of the company’s stock worth $431,000 after purchasing an additional 4,921 shares during the period. Golden State Wealth Management LLC boosted its holdings in Principal Quality ETF by 1.0% during the 1st quarter. Golden State Wealth Management LLC now owns 30,154 shares of the company’s stock valued at $1,990,000 after acquiring an additional 311 shares during the period. Finally, LPL Financial LLC boosted its holdings in Principal Quality ETF by 3.1% during the 4th quarter. LPL Financial LLC now owns 55,404 shares of the company’s stock valued at $3,965,000 after acquiring an additional 1,686 shares during the period.

Principal Quality ETF Trading Up 0.3%

Shares of PSET stock opened at $73.73 on Thursday. Principal Quality ETF has a twelve month low of $58.37 and a twelve month high of $75.56. The stock has a market capitalization of $54.56 million, a price-to-earnings ratio of 29.66 and a beta of 0.94. The stock has a fifty day simple moving average of $71.55 and a two-hundred day simple moving average of $69.77.

Principal Quality ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Tuesday, July 1st were given a dividend of $0.0884 per share. This represents a $0.35 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Tuesday, July 1st.

About Principal Quality ETF

The Principal Quality ETF (PSET) is an exchange-traded fund that mostly invests in total market equity. The fund utilizes a proprietary quantitative model to actively invest in large- and mid-cap companies that are perceived to exhibit higher quality, growth potential, and pricing power. PSET was launched on Mar 21, 2016 and is managed by Principal.