Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – Still a Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw strong trading volume on Tuesday . 92,151 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 86,520 shares.The stock last traded at $56.43 and had previously closed at $56.78.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market capitalization of $2.51 billion, a PE ratio of 26.08 and a beta of 0.93. The company has a 50-day moving average of $60.07 and a two-hundred day moving average of $59.26.

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

Several hedge funds have recently modified their holdings of USMC. Stifel Financial Corp acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 3rd quarter valued at $237,000. EP Wealth Advisors LLC purchased a new position in Principal U.S. Mega-Cap ETF in the third quarter valued at approximately $7,489,000. SeaCrest Wealth Management LLC purchased a new position in Principal U.S. Mega-Cap ETF in the 4th quarter worth approximately $1,472,000. Segment Wealth Management LLC lifted its holdings 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 buying an additional 2,221 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Principal U.S. Mega-Cap ETF by 2.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock valued at $1,282,000 after buying an additional 462 shares during the last quarter.

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.