JPMorgan Chase & Co. Buys 14,996 Shares of Principal U.S. Mega-Cap ETF $USMC

JPMorgan Chase & Co. lifted its stake in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 45.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,225 shares of the company’s stock after acquiring an additional 14,996 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Principal U.S. Mega-Cap ETF worth $3,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USMC. Cape Investment Advisory Inc. boosted its position in shares of Principal U.S. Mega-Cap ETF by 40.8% in the second quarter. Cape Investment Advisory Inc. now owns 883 shares of the company’s stock worth $55,000 after purchasing an additional 256 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $75,000. FLP Wealth Management LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $79,000. Virtu Financial LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $255,000. Finally, Marshall Wace LLP purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter valued at $245,000.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of USMC stock opened at $64.46 on Friday. The stock has a fifty day simple moving average of $66.34 and a two-hundred day simple moving average of $67.62. The firm has a market capitalization of $2.89 billion, a PE ratio of 27.59 and a beta of 0.95. Principal U.S. Mega-Cap ETF has a 52-week low of $49.01 and a 52-week high of $70.08.

Principal U.S. Mega-Cap ETF Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.1463 per share. This is a boost from Principal U.S. Mega-Cap ETF’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.59 annualized dividend and a yield of 0.9%.

About Principal U.S. Mega-Cap ETF

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.