Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – Still a Buy?

Posted by Jared Coughlin on Nov 25th, 2024

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

Principal U.S. Mega-Cap ETF Price Performance

The stock has a 50-day moving average price of $57.53 and a 200-day moving average price of $55.11. The company has a market capitalization of $2.62 billion, a P/E ratio of 26.66 and a beta of 0.92.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Principal U.S. Mega-Cap ETF by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after purchasing an additional 525 shares in the last quarter. Laidlaw Wealth Management LLC boosted its holdings 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 acquiring an additional 809 shares in the last quarter. NewEdge Advisors LLC grew its stake in Principal U.S. Mega-Cap ETF by 0.8% in the second quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock valued at $14,977,000 after acquiring an additional 2,204 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 12.4% during the third quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock valued at $1,635,000 after acquiring an additional 3,158 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in shares of Principal U.S. Mega-Cap ETF during the second quarter worth approximately $201,000.

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.