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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $60.40 and last traded at $60.40, with a volume of 1266 shares trading hands. The stock had previously closed at $60.32.

Principal U.S. Mega-Cap ETF Price Performance

The company’s fifty day moving average price is $57.90 and its 200-day moving average price is $55.41. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of USMC. Raymond James & Associates raised its stake in shares of Principal U.S. Mega-Cap ETF by 3.8% during the 2nd quarter. Raymond James & Associates now owns 244,868 shares of the company’s stock worth $13,284,000 after buying an additional 8,872 shares during the period. Principal Financial Group Inc. lifted its position in Principal U.S. Mega-Cap ETF by 0.3% during the second quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock worth $1,906,413,000 after buying an additional 120,831 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Principal U.S. Mega-Cap ETF by 22.4% in the second quarter. Commonwealth Equity Services LLC now owns 69,521 shares of the company’s stock valued at $3,772,000 after purchasing an additional 12,743 shares during the period. Laidlaw Wealth Management LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 9.1% in the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock valued at $528,000 after acquiring an additional 809 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Principal U.S. Mega-Cap ETF by 14.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock worth $228,485,000 after purchasing an additional 529,078 shares during the period.

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.