Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Hits New 1-Year High – Time to Buy?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) hit a new 52-week high on Tuesday . The stock traded as high as $74.84 and last traded at $74.67, with a volume of 29085 shares changing hands. The stock had previously closed at $74.20.

Principal U.S. Mega-Cap ETF Price Performance

The stock has a market cap of $3.59 billion, a PE ratio of 27.59 and a beta of 0.95. The stock’s fifty day moving average is $73.27 and its 200-day moving average 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 issued a $0.139 dividend. This represents a $0.56 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, July 1st.

Institutional Trading of Principal U.S. Mega-Cap ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank acquired a new position in Principal U.S. Mega-Cap ETF in the fourth quarter valued at approximately $25,000. Parallel Advisors LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the first quarter valued at $26,000. Abound Financial LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter valued at $29,000. Fifth Third Bancorp acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at $80,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at $147,000.

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.