Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $61.72 and last traded at $61.69, with a volume of 2152 shares changing hands. The stock had previously closed at $61.34.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The firm’s 50-day moving average is $58.94 and its 200 day moving average is $56.18.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in USMC. Blair William & Co. IL purchased a new position in shares of Principal U.S. Mega-Cap ETF in the 2nd quarter worth about $201,000. Stifel Financial Corp acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter worth $237,000. Retireful LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF in the 3rd quarter valued at $468,000. Laidlaw Wealth Management LLC raised 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 acquiring an additional 809 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $783,000.

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.