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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.00 and last traded at $70.00, with a volume of 301 shares trading hands. The stock had previously closed at $57.11.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $2.60 billion, a PE ratio of 26.66 and a beta of 0.92. The business has a fifty day moving average of $56.67 and a 200-day moving average of $54.33.

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

Large investors have recently modified their holdings of the company. Blair William & Co. IL purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the second quarter valued at approximately $201,000. Laidlaw Wealth Management LLC raised its stake in Principal U.S. Mega-Cap ETF by 9.1% in the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after buying an additional 809 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Principal U.S. Mega-Cap ETF in the first quarter worth approximately $522,000. Silver Oak Securities Incorporated bought a new position in Principal U.S. Mega-Cap ETF in the third quarter worth approximately $783,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in 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 worth $804,000 after buying an additional 525 shares in the last quarter.

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.