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 on Thursday . The stock traded as high as $77.09 and last traded at $77.0960, with a volume of 24828 shares trading hands. The stock had previously closed at $76.50.

Principal U.S. Mega-Cap ETF Stock Performance

The company has a 50-day moving average of $74.94 and a 200-day moving average of $71.26. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were paid a $0.139 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.56 dividend on an annualized basis and a yield of 0.7%.

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. Stifel Financial Corp lifted its position in Principal U.S. Mega-Cap ETF by 0.8% in the 4th quarter. Stifel Financial Corp now owns 23,418 shares of the company’s stock valued at $1,603,000 after acquiring an additional 184 shares in the last quarter. Advisory Services Network LLC increased its holdings in Principal U.S. Mega-Cap ETF by 3.1% during the 4th quarter. Advisory Services Network LLC now owns 7,117 shares of the company’s stock worth $487,000 after purchasing an additional 212 shares in the last quarter. Equitable Holdings Inc. increased its holdings in Principal U.S. Mega-Cap ETF by 5.5% during the 4th quarter. Equitable Holdings Inc. now owns 4,476 shares of the company’s stock worth $306,000 after purchasing an additional 234 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Principal U.S. Mega-Cap ETF by 6.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock valued at $337,000 after purchasing an additional 306 shares during the period. Finally, Huntington National Bank acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at about $25,000.

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.