PMG Wealth Management Inc. Takes $1.96 Million Position in Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

PMG Wealth Management Inc. acquired a new stake in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) in the fourth quarter, HoldingsChannel reports. The fund acquired 32,656 shares of the company’s stock, valued at approximately $1,960,000. Principal U.S. Mega-Cap ETF makes up about 1.8% of PMG Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 2.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock valued at $1,282,000 after acquiring an additional 462 shares during the period. Segment Wealth Management LLC lifted its position in Principal U.S. Mega-Cap ETF by 0.9% in the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock valued at $15,218,000 after purchasing an additional 2,221 shares during the last quarter. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at about $237,000. EP Wealth Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $7,489,000. Finally, Raymond James & Associates grew its position in Principal U.S. Mega-Cap ETF by 3.2% in the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock worth $14,396,000 after purchasing an additional 7,744 shares during the last quarter.

Principal U.S. Mega-Cap ETF Trading Down 1.8 %

Shares of NASDAQ:USMC opened at $61.25 on Friday. The firm’s 50 day moving average is $61.27 and its two-hundred day moving average is $58.50. The firm has a market capitalization of $2.65 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 $48.51 and a 52 week high of $63.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were given a $0.00 dividend. The ex-dividend date of this dividend was Tuesday, December 31st.

Principal U.S. Mega-Cap ETF Company Profile

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.