Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 52-Week High – Still a Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $62.86 and last traded at $62.52, with a volume of 1585 shares trading hands. The stock had previously closed at $62.47.

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

The stock has a market capitalization of $2.71 billion, a PE ratio of 26.66 and a beta of 0.92. The business’s 50-day moving average is $60.84 and its two-hundred day moving average is $57.84.

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 $0.00 dividend. The ex-dividend date was Tuesday, December 31st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock worth $1,282,000 after acquiring an additional 462 shares in the last quarter. Segment Wealth Management LLC increased its holdings in Principal U.S. Mega-Cap ETF by 0.9% during the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after purchasing an additional 2,221 shares during the last quarter. Capital Investment Advisory Services LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 81.2% in the 4th quarter. Capital Investment Advisory Services LLC now owns 6,252 shares of the company’s stock valued at $375,000 after purchasing an additional 2,801 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 12.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock valued at $1,635,000 after buying an additional 3,158 shares during the last quarter. Finally, Stifel Financial Corp acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter worth approximately $237,000.

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.