Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $77.30 and last traded at $77.3050, with a volume of 12334 shares. The stock had previously closed at $76.17.

Principal U.S. Mega-Cap ETF Stock Performance

The business’s fifty day simple moving average is $75.49 and its 200 day simple moving average is $72.06. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Principal Securities Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 2.1% in the fourth quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after purchasing an additional 91,106 shares during the last quarter. Symphony Financial Services Inc. raised its position in shares of Principal U.S. Mega-Cap ETF by 6.1% in the 1st quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock valued at $15,603,000 after purchasing an additional 13,925 shares in the last quarter. Royal Bank of Canada raised its position in shares of Principal U.S. Mega-Cap ETF by 35.4% in the 1st quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock valued at $7,549,000 after purchasing an additional 30,690 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter valued at approximately $6,818,000. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 14.8% during the 1st quarter. Greenwood Capital Associates LLC now owns 35,210 shares of the company’s stock valued at $2,264,000 after buying an additional 4,552 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.