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

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during trading on Thursday . The stock traded as high as $62.92 and last traded at $62.87, with a volume of 8741 shares traded. The stock had previously closed at $62.40.

Principal U.S. Mega-Cap ETF Trading Up 1.1 %

The company has a market cap of $2.73 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The company’s 50 day moving average price is $61.04 and its 200 day moving average price is $58.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock valued at $1,282,000 after purchasing an additional 462 shares during the period. Segment Wealth Management LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 0.9% in the fourth quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock valued at $15,218,000 after purchasing an additional 2,221 shares during the period. Stifel Financial Corp acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $237,000. Jackson Wealth Management LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 64.0% in the third quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after purchasing an additional 30,714 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $7,489,000.

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.