Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – What’s Next?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw an uptick in trading volume on Monday . 145,563 shares were traded during mid-day trading, an increase of 83% from the previous session’s volume of 79,618 shares.The stock last traded at $57.67 and had previously closed at $57.48.

Principal U.S. Mega-Cap ETF Stock Performance

The stock’s 50 day simple moving average is $56.31 and its 200 day simple moving average is $53.89. The firm has a market capitalization of $2.54 billion, a P/E ratio of 26.66 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in shares of Principal U.S. Mega-Cap ETF by 14.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock valued at $228,485,000 after purchasing an additional 529,078 shares during the period. O Brien Wealth Partners LLC increased its stake in Principal U.S. Mega-Cap ETF by 132.9% during the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock worth $47,355,000 after buying an additional 474,173 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 0.3% in the 2nd quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock valued at $1,906,413,000 after buying an additional 120,831 shares in the last quarter. Jackson Wealth Management LLC boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after buying an additional 30,714 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the 1st quarter valued at $1,116,000.

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.