Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 52-Week High – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares 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. The stock had previously closed at $62.40.

Principal U.S. Mega-Cap ETF Stock Up 1.1 %

The firm has a market capitalization of $2.73 billion, a PE ratio of 26.66 and a beta of 0.92. The business’s fifty day moving average price is $61.04 and its 200 day moving average price is $58.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth about $40,822,000. Wells Fargo & Company MN grew its holdings in Principal U.S. Mega-Cap ETF by 46.5% in the fourth quarter. Wells Fargo & Company MN now owns 288,337 shares of the company’s stock valued at $17,309,000 after purchasing an additional 91,501 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter valued at approximately $8,728,000. Blair William & Co. IL grew its holdings in Principal U.S. Mega-Cap ETF by 26.7% in the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock valued at $281,000 after purchasing an additional 986 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Principal U.S. Mega-Cap ETF by 2,828.8% in the fourth quarter. JPMorgan Chase & Co. now owns 18,510 shares of the company’s stock valued at $1,111,000 after purchasing an additional 17,878 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.