Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Shares Break Above 200-Day Moving Average – What’s Next?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $72.17 and traded as high as $73.18. Principal U.S. Mega-Cap ETF shares last traded at $72.49, with a volume of 50,880 shares changing hands.

Principal U.S. Mega-Cap ETF Stock Performance

The company has a market cap of $4.82 billion, a PE ratio of 27.59 and a beta of 0.96. The stock’s 50 day moving average price is $76.43 and its 200-day moving average price is $72.17.

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

A number of large investors have recently bought and sold shares of USMC. Commonwealth Equity Services LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 3rd quarter worth about $4,209,000. Basso Capital Management L.P. bought a new stake in shares of Principal U.S. Mega-Cap ETF in the 3rd quarter worth approximately $508,000. Elevation Capital Advisory LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter worth $1,431,000. Segment Wealth Management LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the third quarter valued at $20,479,000. Finally, Citizens Financial Group Inc. RI bought a new position in Principal U.S. Mega-Cap ETF in the 3rd quarter worth about $1,484,000.

Principal U.S. Mega-Cap ETF Company Profile

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.