Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 12-Month High – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares hit a new 52-week high on Friday . The company traded as high as $57.94 and last traded at $57.94, with a volume of 3238 shares traded. The stock had previously closed at $57.42.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market capitalization of $2.54 billion, a P/E ratio of 26.66 and a beta of 0.92. The company’s 50-day simple moving average is $56.26 and its 200-day simple moving average is $53.80.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

Several hedge funds have recently bought and sold shares of USMC. O Brien Wealth Partners LLC raised its stake in Principal U.S. Mega-Cap ETF by 132.9% in the third quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock valued at $47,355,000 after buying an additional 474,173 shares during the period. Silver Oak Securities Incorporated bought a new stake in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at $783,000. Jackson Wealth Management LLC boosted its position in Principal U.S. Mega-Cap ETF by 64.0% during the third quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock worth $4,486,000 after purchasing an additional 30,714 shares during the period. Raymond James & Associates boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 3.2% during the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock worth $14,396,000 after buying an additional 7,744 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Principal U.S. Mega-Cap ETF by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after purchasing an additional 525 shares during the period.

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.