AI-Heavy LCAP ETF Sees 24x Trading Volume Surge

Principal Capital Appreciation Select ETF (LCAP) has seen unusual trading volume, which is 24× higher than its average daily volume.

The ETF is heavily tilted toward mega-cap tech, and several of its top holdings are in the news: Nvidia (7.3% weight) remains under the spotlight after its GTC conference, where it laid out an aggressive AI roadmap and a $1 trillion revenue target by 2027 even as shares faced pressure from gamer backlash to its DLSS 5 graphics technology. Apple (5.8%) announced pricey second-generation AirPods Max headphones, a Nike-branded Powerbeats Pro 2 special edition, and the acquisition of MotionVFX to bolster its creative software and AI ecosystem, while Alphabet Class A (5.1%) is contending with mounting EU antitrust pressure and at the same time pushing ahead with heavy AI-related data-center capex and talks with Chinese suppliers for liquid-cooling hardware. Microsoft (4.8%) drew mixed commentary as one prominent investor warned its AI-driven capex and competitive threats could limit upside even as the company joins an industry coalition against online scams and prepares to roll out Gaming Copilot, and Amazon (3.3%) advanced on news of faster one- and three-hour delivery options in more U.S. cities plus a key deal to distribute OpenAI models to U.S. government agencies via AWS, underscoring its cloud and logistics ambitions. Among smaller positions, Casey’s General Stores (3.1%) benefited from a series of bullish analyst price target hikes, Exxon Mobil (2.9%) gained as oil majors warned the Trump administration that Iran-related supply disruptions could further lift crude prices, and Visa (2.6%) saw multiple analysts reiterate Buy ratings with substantial upside targets, highlighting continued confidence in its payments franchise.