Baird Financial Group Inc. Sells 620 Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC)

Baird Financial Group Inc. lowered its stake in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,272 shares of the company’s stock after selling 620 shares during the quarter. Baird Financial Group Inc.’s holdings in Principal U.S. Mega-Cap ETF were worth $316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Independent Advisor Alliance acquired a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth approximately $230,000. Cornerstone Wealth Management LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at approximately $274,000. Blair William & Co. IL raised its position in Principal U.S. Mega-Cap ETF by 26.7% in the 4th quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock worth $281,000 after purchasing an additional 986 shares during the last quarter. Jane Street Group LLC acquired a new position in Principal U.S. Mega-Cap ETF during the 4th quarter worth $324,000. Finally, Capital Investment Advisory Services LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 81.2% during the 4th quarter. Capital Investment Advisory Services LLC now owns 6,252 shares of the company’s stock worth $375,000 after buying an additional 2,801 shares in the last quarter.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of USMC opened at $60.26 on Friday. The business’s fifty day moving average price is $56.23 and its two-hundred day moving average price is $58.94. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 26.55 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52 week low of $49.01 and a 52 week high of $63.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st were issued a $0.1323 dividend. This represents a $0.53 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, April 1st.

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.