Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Here’s Why

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

Principal U.S. Mega-Cap ETF Price Performance

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The firm has a fifty day simple moving average of $58.05 and a 200 day simple moving average of $55.53.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in USMC. Northwestern Mutual Wealth Management Co. grew its position in shares of Principal U.S. Mega-Cap ETF by 3.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after purchasing an additional 525 shares during the period. Laidlaw Wealth Management LLC boosted its holdings in Principal U.S. Mega-Cap ETF by 9.1% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after buying an additional 809 shares during the last quarter. NewEdge Advisors LLC increased its stake in Principal U.S. Mega-Cap ETF by 0.8% during the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after buying an additional 2,204 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Principal U.S. Mega-Cap ETF by 12.4% during the third quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock valued at $1,635,000 after acquiring an additional 3,158 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Principal U.S. Mega-Cap ETF in the second quarter valued at approximately $201,000.

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.