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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $77.09 and last traded at $77.0960, with a volume of 24828 shares trading hands. The stock had previously closed at $76.50.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $3.70 billion, a PE ratio of 27.59 and a beta of 0.95. The business has a fifty day moving average of $75.11 and a 200-day moving average of $71.37.

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

Hedge funds have recently made changes to their positions in the company. Principal Securities Inc. grew its position in shares of Principal U.S. Mega-Cap ETF by 2.1% during the 4th quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock worth $306,013,000 after buying an additional 91,106 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 6.6% during the fourth quarter. LPL Financial LLC now owns 1,404,127 shares of the company’s stock valued at $96,112,000 after purchasing an additional 87,122 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Principal U.S. Mega-Cap ETF by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 640,137 shares of the company’s stock valued at $43,817,000 after buying an additional 43,635 shares during the period. NewEdge Advisors LLC increased its holdings in Principal U.S. Mega-Cap ETF by 45.6% during the third quarter. NewEdge Advisors LLC now owns 459,273 shares of the company’s stock valued at $31,310,000 after buying an additional 143,807 shares during the period. Finally, Orion Porfolio Solutions LLC raised its stake in Principal U.S. Mega-Cap ETF by 4.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 306,368 shares of the company’s stock worth $20,971,000 after buying an additional 13,878 shares in the last quarter.

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.