Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 52-Week High – What’s Next?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $59.88 and last traded at $59.88, with a volume of 2297 shares. The stock had previously closed at $59.43.

Principal U.S. Mega-Cap ETF Trading Down 0.2 %

The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The company has a 50 day simple moving average of $57.68 and a 200-day simple moving average of $55.23.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in USMC. EP Wealth Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF during the third quarter worth $7,489,000. Stifel Financial Corp acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter worth about $237,000. CreativeOne Wealth LLC grew its holdings in shares of Principal U.S. Mega-Cap ETF by 12.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock valued at $1,635,000 after acquiring an additional 3,158 shares in the last quarter. Retireful LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $468,000. Finally, Legacy CG LLC raised its holdings in Principal U.S. Mega-Cap ETF by 6.1% during the third quarter. Legacy CG LLC now owns 271,867 shares of the company’s stock worth $15,494,000 after acquiring an additional 15,667 shares in the last quarter.

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.