Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw strong trading volume on Wednesday . 358,665 shares were traded during trading, an increase of 174% from the previous session’s volume of 130,962 shares.The stock last traded at $67.37 and had previously closed at $66.80.

Principal U.S. Mega-Cap ETF Stock Down 1.4%

The firm has a market cap of $3.02 billion, a P/E ratio of 27.59 and a beta of 0.95. The business’s 50 day moving average is $67.66 and its 200-day moving average is $67.68.

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

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Principal U.S. Mega-Cap ETF by 19.4% in the first quarter. Royal Bank of Canada now owns 60,688 shares of the company’s stock worth $3,446,000 after purchasing an additional 9,858 shares in the last quarter. Assetmark Inc. lifted its holdings in Principal U.S. Mega-Cap ETF by 1,763.6% during the 2nd quarter. Assetmark Inc. now owns 2,665 shares of the company’s stock worth $167,000 after buying an additional 2,522 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Principal U.S. Mega-Cap ETF by 2.1% in the 2nd quarter. Golden State Wealth Management LLC now owns 195,564 shares of the company’s stock worth $12,234,000 after acquiring an additional 3,965 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of Principal U.S. Mega-Cap ETF by 12.8% in the 2nd quarter. Prospera Financial Services Inc now owns 13,500 shares of the company’s stock worth $845,000 after acquiring an additional 1,535 shares in the last quarter. Finally, Symphony Financial Services Inc. increased its holdings in shares of Principal U.S. Mega-Cap ETF by 7.5% in the 2nd quarter. Symphony Financial Services Inc. now owns 211,761 shares of the company’s stock valued at $13,248,000 after acquiring an additional 14,831 shares during the last quarter.

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.