Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 52-Week High – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $57.21 and last traded at $57.21, with a volume of 8327 shares trading hands. The stock had previously closed at $56.97.

Principal U.S. Mega-Cap ETF Stock Up 0.4 %

The stock’s 50-day moving average is $55.32 and its 200-day moving average is $53.34. The firm has a market cap of $2.56 billion, a P/E ratio of 26.66 and a beta of 0.92.

Hedge Funds Weigh In On Principal U.S. Mega-Cap ETF

A number of institutional investors and hedge funds have recently bought and sold shares of USMC. Blair William & Co. IL bought a new position in Principal U.S. Mega-Cap ETF during the second quarter worth $201,000. CreativeOne Wealth LLC bought a new position in Principal U.S. Mega-Cap ETF during the first quarter worth $522,000. Laidlaw Wealth Management LLC increased its position in Principal U.S. Mega-Cap ETF by 9.1% during the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after acquiring an additional 809 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Principal U.S. Mega-Cap ETF by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after acquiring an additional 525 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Principal U.S. Mega-Cap ETF during the first quarter worth $1,116,000.

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.