Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Here’s What Happened

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s stock price reached a new 52-week high on Monday. The company traded as high as $77.75 and last traded at $77.7250, with a volume of 36120 shares. The stock had previously closed at $77.29.

Principal U.S. Mega-Cap ETF Price Performance

The stock’s 50-day moving average price is $76.08 and its 200 day moving average price is $72.79. The firm has a market cap of $5.18 billion, a P/E ratio of 27.59 and a beta of 0.95.

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

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Principal U.S. Mega-Cap ETF by 2.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,575,742 shares of the company’s stock worth $339,185,000 after purchasing an additional 91,195 shares during the last quarter. Principal Securities Inc. lifted its stake in Principal U.S. Mega-Cap ETF by 2.1% in the fourth quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after acquiring an additional 91,106 shares during the last quarter. Symphony Financial Services Inc. grew its position in shares of Principal U.S. Mega-Cap ETF by 6.1% in the 1st quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock valued at $15,603,000 after acquiring an additional 13,925 shares during the period. Royal Bank of Canada raised its holdings in shares of Principal U.S. Mega-Cap ETF by 35.4% in the 1st quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock valued at $7,549,000 after purchasing an additional 30,690 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the 2nd quarter valued at about $6,818,000.

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.