Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Unusually-High Trading Volume – Time to Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) shares saw an uptick in trading volume on Friday . 141,203 shares changed hands during mid-day trading, an increase of 118% from the previous session’s volume of 64,847 shares.The stock last traded at $60.65 and had previously closed at $59.93.

Principal U.S. Mega-Cap ETF Trading Up 1.1 %

The business has a fifty day simple moving average of $60.19 and a two-hundred day simple moving average of $57.25. The company has a market cap of $2.61 billion, a PE ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL acquired a new position in Principal U.S. Mega-Cap ETF during the second quarter worth $201,000. Stifel Financial Corp acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $237,000. Retireful LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $468,000. Silver Oak Securities Incorporated acquired a new stake in Principal U.S. Mega-Cap ETF during the third quarter worth about $783,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 purchasing an additional 525 shares during the period.

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.