Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 52-Week High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high during trading on Friday . The company traded as high as $68.86 and last traded at $68.86, with a volume of 2150 shares trading hands. The stock had previously closed at $68.57.

Principal U.S. Mega-Cap ETF Trading Down 2.5%

The stock has a market capitalization of $3.56 billion, a P/E ratio of 27.59 and a beta of 0.92. The stock’s 50 day simple moving average is $66.14 and its 200 day simple moving average is $61.61.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter worth about $63,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,667 shares of the company’s stock worth $1,344,000 after buying an additional 882 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter worth about $217,000. CreativeOne Wealth LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 19.0% in the 1st quarter. CreativeOne Wealth LLC now owns 36,277 shares of the company’s stock worth $2,060,000 after buying an additional 5,793 shares during the last quarter. Finally, US Bancorp DE bought a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter worth about $371,000.

Principal U.S. Mega-Cap ETF Company Profile

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.