Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – Here’s What Happened

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) reached a new 52-week high on Friday . The company traded as high as $62.00 and last traded at $61.88, with a volume of 750 shares traded. The stock had previously closed at $61.85.

Principal U.S. Mega-Cap ETF Price Performance

The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The business’s 50-day moving average price is $60.29 and its two-hundred day moving average price is $57.37.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were issued a $0.00 dividend. The ex-dividend date of this dividend was Tuesday, December 31st.

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

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF in the third quarter valued at $237,000. Segment Wealth Management LLC increased its stake in Principal U.S. Mega-Cap ETF by 0.9% in the 4th quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after purchasing an additional 2,221 shares in the last quarter. Jackson Wealth Management LLC increased its stake in Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock worth $4,486,000 after purchasing an additional 30,714 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $783,000. Finally, EP Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $7,489,000.

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.