Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $62.92 and last traded at $62.87, with a volume of 8741 shares changing hands. The stock had previously closed at $62.40.

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

The company has a market capitalization of $2.73 billion, a P/E ratio of 26.66 and a beta of 0.92. The firm’s 50-day moving average price is $61.08 and its 200 day moving average price is $58.17.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.00 per share. The ex-dividend date of this dividend was Tuesday, December 31st.

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

Several institutional investors and hedge funds have recently modified their holdings of USMC. Janney Montgomery Scott LLC grew its holdings in Principal U.S. Mega-Cap ETF by 2.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock worth $1,282,000 after buying an additional 462 shares in the last quarter. Segment Wealth Management LLC grew its stake in shares of Principal U.S. Mega-Cap ETF by 0.9% in the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after acquiring an additional 2,221 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $237,000. Jackson Wealth Management LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 64.0% during the third quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after purchasing an additional 30,714 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF during the third quarter worth about $7,489,000.

About Principal U.S. Mega-Cap ETF

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.