Principal U.S. Small-Cap Multi-Factor ETF (NASDAQ:PSC) Sets New 52-Week High – Time to Buy?

Shares of Principal U.S. Small-Cap Multi-Factor ETF (NASDAQ:PSC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $60.60 and last traded at $60.5250, with a volume of 8762 shares traded. The stock had previously closed at $60.40.

Principal U.S. Small-Cap Multi-Factor ETF Stock Performance

The company has a market cap of $1.63 billion, a price-to-earnings ratio of 17.29 and a beta of 1.07. The company has a 50-day simple moving average of $57.76 and a 200-day simple moving average of $56.11.

Hedge Funds Weigh In On Principal U.S. Small-Cap Multi-Factor ETF

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Principal U.S. Small-Cap Multi-Factor ETF by 11.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 775,802 shares of the company’s stock worth $42,235,000 after purchasing an additional 81,301 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in shares of Principal U.S. Small-Cap Multi-Factor ETF by 4.3% in the second quarter. SeaCrest Wealth Management LLC now owns 5,050 shares of the company’s stock worth $269,000 after acquiring an additional 207 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Principal U.S. Small-Cap Multi-Factor ETF during the second quarter valued at $517,000. Venture Visionary Partners LLC acquired a new position in Principal U.S. Small-Cap Multi-Factor ETF in the 2nd quarter valued at about $457,000. Finally, Truist Financial Corp purchased a new position in Principal U.S. Small-Cap Multi-Factor ETF in the 2nd quarter valued at about $14,445,000.

About Principal U.S. Small-Cap Multi-Factor ETF

The Principal U.S. Small-Cap Multi-Factor ETF (PSC) is an exchange-traded fund that is based on the Russell 2000 index. The fund is actively managed to invest in small-cap US companies. The fund uses a proprietary, quantitative model to construct the portfolio. PSC was launched on Sep 21, 2016 and is managed by Principal.