Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 12-Month High – Here’s Why

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $67.86 and last traded at $67.81, with a volume of 46767 shares traded. The stock had previously closed at $67.33.

Principal U.S. Mega-Cap ETF Stock Up 0.7%

The firm has a market capitalization of $3.54 billion, a PE ratio of 27.59 and a beta of 0.92. The firm has a 50-day moving average price of $64.15 and a 200 day moving average price of $60.25.

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

Hedge funds have recently modified their holdings of the stock. Cape Investment Advisory Inc. raised its stake in shares of Principal U.S. Mega-Cap ETF by 747.3% in the first quarter. Cape Investment Advisory Inc. now owns 627 shares of the company’s stock valued at $36,000 after acquiring an additional 553 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the first quarter valued at $63,000. Assetmark Inc. raised its stake in shares of Principal U.S. Mega-Cap ETF by 1,763.6% in the second quarter. Assetmark Inc. now owns 2,665 shares of the company’s stock valued at $167,000 after acquiring an additional 2,522 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the first quarter valued at $217,000. Finally, Marshall Wace LLP acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the second quarter valued at $245,000.

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.