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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $62.86 and last traded at $62.52, with a volume of 1585 shares. The stock had previously closed at $62.47.

Principal U.S. Mega-Cap ETF Stock Down 1.0 %

The firm’s 50 day simple moving average is $60.90 and its two-hundred day simple moving average is $57.87. The stock has a market capitalization of $2.69 billion, a P/E ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in USMC. Raymond James & Associates lifted its position in Principal U.S. Mega-Cap ETF by 3.2% in the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after acquiring an additional 7,744 shares in the last quarter. Jackson Wealth Management LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 64.0% during the third quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $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 third quarter worth about $783,000. O Brien Wealth Partners LLC increased its stake in Principal U.S. Mega-Cap ETF by 132.9% in the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock valued at $47,355,000 after buying an additional 474,173 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Principal U.S. Mega-Cap ETF by 2.0% during the 3rd quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock worth $251,398,000 after buying an additional 86,008 shares in 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.