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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) hit a new 52-week high during trading on Monday . The stock traded as high as $60.40 and last traded at $60.40, with a volume of 1266 shares trading hands. The stock had previously closed at $60.32.

Principal U.S. Mega-Cap ETF Trading Up 0.1 %

The firm has a market capitalization of $2.67 billion, a PE ratio of 26.66 and a beta of 0.92. The firm’s fifty day moving average price is $58.05 and its 200 day moving average price is $55.53.

Hedge Funds Weigh In On Principal U.S. Mega-Cap ETF

Institutional investors have recently modified their holdings of the stock. Blair William & Co. IL acquired a new stake in Principal U.S. Mega-Cap ETF during the second quarter worth about $201,000. Stifel Financial Corp acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter worth approximately $237,000. Retireful LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at approximately $468,000. Laidlaw Wealth Management LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 9.1% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock valued at $528,000 after purchasing an additional 809 shares during the period. Finally, Silver Oak Securities Incorporated purchased a new stake in Principal U.S. Mega-Cap ETF during the third quarter worth $783,000.

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.