Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 1-Year High – Time to Buy?

Posted by Dante Gardener on Oct 18th, 2024

Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $57.79 and last traded at $57.76, with a volume of 30865 shares trading hands. The stock had previously closed at $57.29.

Principal U.S. Mega-Cap ETF Stock Performance

The stock has a market cap of $2.59 billion, a PE ratio of 26.66 and a beta of 0.92. The business’s fifty day moving average price is $55.87 and its 200-day moving average price is $53.56.

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

Several institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in Principal U.S. Mega-Cap ETF by 0.3% during the second quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock valued at $1,906,413,000 after buying an additional 120,831 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Principal U.S. Mega-Cap ETF by 14.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock valued at $228,485,000 after buying an additional 529,078 shares during the last quarter. O Brien Wealth Partners LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the first quarter valued at approximately $18,054,000. NewEdge Advisors LLC increased 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 valued at $14,977,000 after buying an additional 2,204 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Principal U.S. Mega-Cap ETF by 3.2% during the third quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after buying an additional 7,744 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.