Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $62.00 and last traded at $61.88, with a volume of 750 shares traded. The stock had previously closed at $61.85.

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

The company has a 50 day moving average of $60.42 and a 200-day moving average of $57.45. The firm has a market capitalization of $2.67 billion, a P/E ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 31st were given a dividend of $0.00 per share. The ex-dividend date of this dividend was Tuesday, December 31st.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF during the 3rd quarter worth $237,000. Segment Wealth Management LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 0.9% during the fourth quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock valued at $15,218,000 after purchasing an additional 2,221 shares in the last quarter. Jackson Wealth Management LLC grew its holdings in shares of 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 last quarter. Silver Oak Securities Incorporated acquired a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at approximately $783,000. Finally, EP Wealth Advisors LLC bought a new position in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at approximately $7,489,000.

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.