Elevation Capital Advisory LLC Invests $8.73 Million in Principal U.S. Mega-Cap ETF $USMC

Elevation Capital Advisory LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 128,122 shares of the company’s stock, valued at approximately $8,734,000. Principal U.S. Mega-Cap ETF comprises 3.5% of Elevation Capital Advisory LLC’s portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cape Investment Advisory Inc. grew its stake in Principal U.S. Mega-Cap ETF by 40.8% in the 2nd quarter. Cape Investment Advisory Inc. now owns 883 shares of the company’s stock valued at $55,000 after purchasing an additional 256 shares during the period. PMG Wealth Management Inc. increased its holdings in Principal U.S. Mega-Cap ETF by 1.0% during the second quarter. PMG Wealth Management Inc. now owns 32,570 shares of the company’s stock worth $2,033,000 after buying an additional 319 shares during the last quarter. Segment Wealth Management LLC raised its position in Principal U.S. Mega-Cap ETF by 0.4% in the second quarter. Segment Wealth Management LLC now owns 257,232 shares of the company’s stock worth $16,092,000 after acquiring an additional 926 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF in the third quarter valued at about $75,000. Finally, FLP Wealth Management LLC purchased a new position in Principal U.S. Mega-Cap ETF in the third quarter valued at about $79,000.

Principal U.S. Mega-Cap ETF Stock Up 0.8%

Shares of USMC stock opened at $67.47 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 27.59 and a beta of 0.95. The company has a 50 day moving average of $68.29 and a 200-day moving average of $66.83. Principal U.S. Mega-Cap ETF has a 12-month low of $49.01 and a 12-month high of $70.08.

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.