Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 12-Month High – Here’s Why

Posted by Stephan Jacobs on Nov 25th, 2024

Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $59.88 and last traded at $59.88, with a volume of 2297 shares traded. The stock had previously closed at $59.43.

Principal U.S. Mega-Cap ETF Trading Up 0.1 %

The firm has a market cap of $2.62 billion, a P/E ratio of 26.66 and a beta of 0.92. The company’s 50-day moving average is $57.53 and its two-hundred day moving average is $55.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter worth $201,000. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF in the third quarter worth about $237,000. Retireful LLC purchased a new position in Principal U.S. Mega-Cap ETF in the third quarter valued at about $468,000. Laidlaw Wealth Management LLC increased its stake in shares of Principal U.S. Mega-Cap ETF by 9.1% during 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. Finally, Silver Oak Securities Incorporated purchased a new stake in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter worth approximately $783,000.

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.