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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $62.25 and last traded at $62.01, with a volume of 1381 shares changing hands. The stock had previously closed at $61.63.

Principal U.S. Mega-Cap ETF Trading Down 0.3 %

The stock’s 50-day simple moving average is $60.64 and its 200-day simple moving average is $57.62. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were given a dividend of $0.00 per share. The ex-dividend date was Tuesday, December 31st.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USMC. Principal Securities Inc. increased its position in shares of Principal U.S. Mega-Cap ETF by 2.0% in the third quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock worth $251,398,000 after purchasing an additional 86,008 shares during the period. O Brien Wealth Partners LLC increased its holdings in Principal U.S. Mega-Cap ETF by 16.0% in the 4th quarter. O Brien Wealth Partners LLC now owns 963,761 shares of the company’s stock valued at $57,855,000 after buying an additional 132,829 shares during the period. Legacy CG LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 10.9% in the 4th quarter. Legacy CG LLC now owns 301,450 shares of the company’s stock valued at $18,096,000 after buying an additional 29,583 shares in the last quarter. Segment Wealth Management LLC lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 0.9% during the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after acquiring an additional 2,221 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Principal U.S. Mega-Cap ETF by 3.2% during the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock worth $14,396,000 after acquiring an additional 7,744 shares in 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.