Orion Portfolio Solutions LLC Invests $8.73 Million in Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

Orion Portfolio Solutions LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 145,398 shares of the company’s stock, valued at approximately $8,728,000. Orion Portfolio Solutions LLC owned approximately 0.34% of Principal U.S. Mega-Cap ETF at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of USMC. Blair William & Co. IL lifted its position in shares of Principal U.S. Mega-Cap ETF by 26.7% during the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock worth $281,000 after acquiring an additional 986 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Principal U.S. Mega-Cap ETF by 2,828.8% in the 4th quarter. JPMorgan Chase & Co. now owns 18,510 shares of the company’s stock worth $1,111,000 after purchasing an additional 17,878 shares in the last quarter. LPL Financial LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 29.2% in the fourth quarter. LPL Financial LLC now owns 570,746 shares of the company’s stock worth $34,262,000 after buying an additional 128,838 shares in the last quarter. Wealth Advisors of Iowa LLC increased its stake in Principal U.S. Mega-Cap ETF by 87.9% in the 4th quarter. Wealth Advisors of Iowa LLC now owns 41,501 shares of the company’s stock worth $2,491,000 after acquiring an additional 19,417 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth about $230,000.

Principal U.S. Mega-Cap ETF Stock Performance

NASDAQ USMC opened at $56.58 on Friday. Principal U.S. Mega-Cap ETF has a 52-week low of $48.52 and a 52-week high of $63.13. The company has a fifty day moving average of $60.15 and a 200-day moving average of $59.20. The company has a market capitalization of $2.45 billion, a P/E ratio of 26.11 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

Principal U.S. Mega-Cap ETF 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.