Northwestern Mutual Wealth Management Co. Boosts Holdings in Principal U.S. Mega-Cap ETF $USMC

Northwestern Mutual Wealth Management Co. raised its holdings in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 68.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,397 shares of the company’s stock after purchasing an additional 12,803 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.07% of Principal U.S. Mega-Cap ETF worth $2,149,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Huntington National Bank purchased a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter valued at $25,000. Prospera Financial Services Inc boosted its holdings in Principal U.S. Mega-Cap ETF by 30.4% in the fourth quarter. Prospera Financial Services Inc now owns 16,678 shares of the company’s stock valued at $1,142,000 after purchasing an additional 3,889 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Principal U.S. Mega-Cap ETF by 9.4% in the fourth quarter. HighTower Advisors LLC now owns 5,274 shares of the company’s stock valued at $361,000 after purchasing an additional 455 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 6.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock valued at $337,000 after purchasing an additional 306 shares during the last quarter. Finally, Mcdonald Partners LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth about $445,000.

Principal U.S. Mega-Cap ETF Stock Down 2.3%

USMC stock opened at $72.53 on Friday. The company’s 50-day simple moving average is $70.01 and its 200-day simple moving average is $68.43. Principal U.S. Mega-Cap ETF has a 52-week low of $60.04 and a 52-week high of $74.78. The firm has a market cap of $3.27 billion, a P/E ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.1463 per share. This represents a $0.59 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 1st. This is an increase from Principal U.S. Mega-Cap ETF’s previous quarterly dividend of $0.14.

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.