Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 52-Week High – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $75.06 and last traded at $75.05, with a volume of 28072 shares trading hands. The stock had previously closed at $74.11.

Principal U.S. Mega-Cap ETF Stock Up 1.3%

The stock’s fifty day simple moving average is $73.69 and its 200-day simple moving average is $69.90. The company has a market capitalization of $3.62 billion, a PE ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.139 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, July 1st.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth about $25,000. Parallel Advisors LLC acquired a new stake in Principal U.S. Mega-Cap ETF during the first quarter worth approximately $26,000. Abound Financial LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the 4th quarter worth approximately $29,000. Fifth Third Bancorp purchased a new stake in Principal U.S. Mega-Cap ETF in the 1st quarter worth approximately $80,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $147,000.

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.