Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-high trading volume on Monday . Approximately 145,563 shares changed hands during trading, an increase of 83% from the previous session’s volume of 79,618 shares.The stock last traded at $57.67 and had previously closed at $57.48.

Principal U.S. Mega-Cap ETF Stock Performance

The business has a 50 day moving average price of $56.39 and a two-hundred day moving average price of $53.99. The stock has a market cap of $2.54 billion, a PE ratio of 26.66 and a beta of 0.92.

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

Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the first quarter valued at about $1,116,000. CreativeOne Wealth LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the first quarter valued at about $522,000. Raymond James & Associates increased its holdings in Principal U.S. Mega-Cap ETF by 3.8% during the 2nd quarter. Raymond James & Associates now owns 244,868 shares of the company’s stock valued at $13,284,000 after purchasing an additional 8,872 shares during the period. Principal Financial Group Inc. raised its position in Principal U.S. Mega-Cap ETF by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock valued at $1,906,413,000 after purchasing an additional 120,831 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 22.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 69,521 shares of the company’s stock worth $3,772,000 after buying an additional 12,743 shares during the period.

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.