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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares reached a new 52-week high on Monday . The company traded as high as $61.15 and last traded at $60.98, with a volume of 2210 shares. The stock had previously closed at $61.15.

Principal U.S. Mega-Cap ETF Stock Performance

The business’s 50 day moving average price is $58.30 and its 200-day moving average price is $55.72. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

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

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Principal U.S. Mega-Cap ETF by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after buying an additional 525 shares in the last quarter. Laidlaw Wealth Management LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 9.1% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock valued at $528,000 after purchasing an additional 809 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Principal U.S. Mega-Cap ETF by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after purchasing an additional 2,204 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Principal U.S. Mega-Cap ETF by 12.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock worth $1,635,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in Principal U.S. Mega-Cap ETF during the 2nd quarter valued at about $201,000.

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.