Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sets New 1-Year High – Still a 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 changing hands. The stock had previously closed at $76.50.

Principal U.S. Mega-Cap ETF Trading Up 0.7%

The company has a market capitalization of $3.72 billion, a P/E ratio of 27.59 and a beta of 0.95. The business has a 50 day moving average price of $74.94 and a 200 day moving average price of $71.26.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, July 1st were issued a dividend of $0.139 per share. The ex-dividend date 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

Several hedge funds have recently bought and sold shares of the company. Principal Securities Inc. grew its holdings in shares of Principal U.S. Mega-Cap ETF by 2.1% in the 4th quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after buying an additional 91,106 shares during the period. LPL Financial LLC raised its stake in Principal U.S. Mega-Cap ETF by 6.6% during the 4th quarter. LPL Financial LLC now owns 1,404,127 shares of the company’s stock worth $96,112,000 after buying an additional 87,122 shares during the period. Wells Fargo & Company MN lifted its holdings in Principal U.S. Mega-Cap ETF by 7.3% during the fourth quarter. Wells Fargo & Company MN now owns 640,137 shares of the company’s stock worth $43,817,000 after acquiring an additional 43,635 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 45.6% during the third quarter. NewEdge Advisors LLC now owns 459,273 shares of the company’s stock worth $31,310,000 after acquiring an additional 143,807 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 4.7% during the fourth quarter. Orion Porfolio Solutions LLC now owns 306,368 shares of the company’s stock worth $20,971,000 after acquiring an additional 13,878 shares in the last quarter.

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.