Principal Financial Group Inc. Makes New Investment in Principal Quality ETF (NASDAQ:PSET)

Principal Financial Group Inc. purchased a new stake in Principal Quality ETF (NASDAQ:PSET) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,976 shares of the company’s stock, valued at approximately $262,000. Principal Financial Group Inc. owned approximately 0.57% of Principal Quality ETF at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PSET. Golden State Wealth Management LLC raised its holdings in Principal Quality ETF by 102.1% during the first quarter. Golden State Wealth Management LLC now owns 60,308 shares of the company’s stock worth $3,981,000 after acquiring an additional 30,465 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Principal Quality ETF by 6.1% in the fourth quarter. Cetera Investment Advisers now owns 202,390 shares of the company’s stock valued at $14,485,000 after buying an additional 11,561 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Principal Quality ETF in the fourth quarter valued at approximately $441,000. Envestnet Asset Management Inc. lifted its stake in Principal Quality ETF by 1.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 242,988 shares of the company’s stock worth $17,391,000 after purchasing an additional 3,037 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Principal Quality ETF by 3.1% in 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 last quarter.

Principal Quality ETF Stock Down 0.3%

NASDAQ PSET opened at $74.26 on Monday. The stock has a fifty day simple moving average of $71.81 and a 200 day simple moving average of $69.78. Principal Quality ETF has a twelve month low of $58.37 and a twelve month high of $75.56. The company has a market capitalization of $54.95 million, a price-to-earnings ratio of 29.66 and a beta of 0.94.

Principal Quality ETF Cuts Dividend

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

Principal Quality ETF Profile

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.