PIEQ volume surges as TSMC rally fuels semiconductor optimism

Principal International Equity ETF (PIEQ) has seen unusual trading volume, which is 45× higher than its average daily volume.

The fund’s largest holding, Taiwan Semiconductor Manufacturing Company Limited (TSM), has been in focus after its shares jumped on the back of bullish analyst calls and strong signs of sustained AI and high-performance computing demand. Analysts at Aletheia Capital raised their price target to a street-high $600 and highlighted TSMC’s aggressive capacity expansion plans and robust revenue growth outlook, while recent results showed roughly 35% year-over-year revenue growth and solid margins, reinforcing optimism around the stock and the broader semiconductor sector within the ETF.