Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Reaches New 1-Year High – Should You Buy?

Principal U.S. Mega-Cap ETF (NASDAQ:USMC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.84 and last traded at $74.67, with a volume of 29085 shares trading hands. The stock had previously closed at $74.20.

Principal U.S. Mega-Cap ETF Trading Up 0.6%

The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The firm’s fifty day moving average price is $73.27 and its 200 day moving average price is $69.39.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were given 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of USMC. Stifel Financial Corp grew its stake in shares of Principal U.S. Mega-Cap ETF by 0.8% in the fourth quarter. Stifel Financial Corp now owns 23,418 shares of the company’s stock valued at $1,603,000 after buying an additional 184 shares in the last quarter. Advisory Services Network LLC lifted its stake 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 acquiring an additional 212 shares in the last quarter. Equitable Holdings Inc. lifted its stake 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 acquiring an additional 234 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 6.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock valued at $337,000 after acquiring an additional 306 shares during the period. Finally, Huntington National Bank purchased a new position in Principal U.S. Mega-Cap ETF during 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.