Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 12-Month High – Should You Buy?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $77.75 and last traded at $77.7250, with a volume of 36120 shares trading hands. The stock had previously closed at $77.29.

Principal U.S. Mega-Cap ETF Trading Up 0.6%

The company has a 50 day moving average of $76.08 and a 200 day moving average of $72.79. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF during the first quarter worth $26,000. Abound Financial LLC bought a new stake in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $29,000. Fifth Third Bancorp acquired a new position in Principal U.S. Mega-Cap ETF in the 1st quarter worth $80,000. Compass Financial Management LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the 2nd quarter valued at about $83,000. Finally, Concorde Asset Management LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF in the second quarter valued at about $200,000.

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.