Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 12-Month High – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMCGet Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $62.00 and last traded at $61.88, with a volume of 750 shares trading hands. The stock had previously closed at $61.85.

Principal U.S. Mega-Cap ETF Stock Down 0.2 %

The stock has a 50 day moving average of $60.42 and a 200 day moving average of $57.45. The company has a market capitalization 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 firm also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were paid 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. raised its position in shares of Principal U.S. Mega-Cap ETF by 2.0% during 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 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 valued at $47,355,000 after purchasing an additional 474,173 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Principal U.S. Mega-Cap ETF by 0.8% during the second 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 during the last quarter. Legacy CG LLC lifted its stake in shares of Principal U.S. Mega-Cap ETF by 6.1% in the third quarter. Legacy CG LLC now owns 271,867 shares of the company’s stock valued at $15,494,000 after buying an additional 15,667 shares in the last quarter. Finally, 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 buying an additional 2,221 shares in the last quarter.

About Principal U.S. Mega-Cap ETF

(Get Free Report)

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.

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