Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 52-Week High – What’s Next?

Posted by Doug Madison on Nov 27th, 2024

Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Get Free Report)’s stock price hit a new 52-week high on Monday . The company traded as high as $59.88 and last traded at $59.88, with a volume of 2297 shares changing hands. The stock had previously closed at $59.43.

Principal U.S. Mega-Cap ETF Stock Down 0.2 %

The stock has a fifty day moving average of $57.68 and a 200-day moving average of $55.23. The firm has a market capitalization of $2.63 billion, a P/E ratio of 26.66 and a beta of 0.92.

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

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position in Principal U.S. Mega-Cap ETF by 14.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock worth $228,485,000 after purchasing an additional 529,078 shares during the last quarter. O Brien Wealth Partners LLC increased its stake in shares of Principal U.S. Mega-Cap ETF by 132.9% in the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock valued at $47,355,000 after buying an additional 474,173 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter worth $7,489,000. Principal Financial Group Inc. lifted its stake in shares of Principal U.S. Mega-Cap ETF by 0.3% during the second quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock valued at $1,906,413,000 after acquiring an additional 120,831 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of Principal U.S. Mega-Cap ETF by 2.0% during the third quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock valued at $251,398,000 after acquiring an additional 86,008 shares during the period.

About Principal U.S. Mega-Cap ETF

(Get Free Report)

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.