LPL Financial LLC Acquires 6,164 Shares of Principal Quality ETF (NASDAQ:PSET)

LPL Financial LLC grew its position in shares of Principal Quality ETF (NASDAQ:PSET) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,568 shares of the company’s stock after acquiring an additional 6,164 shares during the quarter. LPL Financial LLC owned about 8.80% of Principal Quality ETF worth $4,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of Principal Quality ETF by 1.0% during the first 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 in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Principal Quality ETF during the first quarter valued at approximately $262,000. Capital Investment Advisory Services LLC increased its holdings in shares of Principal Quality ETF by 307.0% during the first quarter. Capital Investment Advisory Services LLC now owns 6,524 shares of the company’s stock valued at $431,000 after acquiring an additional 4,921 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Principal Quality ETF during the fourth quarter valued at approximately $441,000. Finally, Cetera Investment Advisers increased its holdings in shares of Principal Quality ETF by 3.5% during the first quarter. Cetera Investment Advisers now owns 209,424 shares of the company’s stock valued at $13,824,000 after acquiring an additional 7,034 shares in the last quarter.

Principal Quality ETF Stock Down 0.3%

NASDAQ PSET opened at $75.49 on Friday. The company has a market cap of $55.86 million, a price-to-earnings ratio of 29.66 and a beta of 0.94. Principal Quality ETF has a 52 week low of $58.37 and a 52 week high of $76.01. The business has a 50 day moving average price of $73.44 and a 200-day moving average price of $70.08.

Principal Quality ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.5%.

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.