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

by · The Cerbat Gem

Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.21 and last traded at $57.21, with a volume of 8327 shares changing hands. The stock had previously closed at $56.97.

Principal U.S. Mega-Cap ETF Stock Performance

The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The company’s 50 day simple moving average is $55.32 and its 200 day simple moving average is $53.34.

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

Several large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Principal U.S. Mega-Cap ETF by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after buying an additional 525 shares during the period. Laidlaw Wealth Management LLC grew its stake in shares of 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 purchasing an additional 809 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Principal U.S. Mega-Cap ETF by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after purchasing an additional 2,204 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 2nd quarter worth approximately $201,000. Finally, Raymond James & Associates grew its stake in shares of Principal U.S. Mega-Cap ETF by 3.8% in the 2nd quarter. Raymond James & Associates now owns 244,868 shares of the company’s stock worth $13,284,000 after purchasing an additional 8,872 shares during the last quarter.

Principal U.S. Mega-Cap ETF Company Profile

(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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