Principal U.S. Mega-Cap ETF $USMC Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) by 0.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 37,449,019 shares of the company’s stock after acquiring an additional 156,816 shares during the period. Principal U.S. Mega-Cap ETF makes up approximately 1.3% of Principal Financial Group Inc.’s portfolio, making the stock its 13th largest position. Principal Financial Group Inc. owned 0.79% of Principal U.S. Mega-Cap ETF worth $2,552,553,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Elevation Capital Advisory LLC acquired a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth $8,734,000. Systelligence LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the 2nd quarter worth about $4,229,000. Orion Porfolio Solutions LLC raised its stake in Principal U.S. Mega-Cap ETF by 29.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 268,592 shares of the company’s stock valued at $16,803,000 after purchasing an additional 60,344 shares during the last quarter. AE Wealth Management LLC purchased a new position in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at about $3,897,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 16.3% during the 2nd quarter. NewEdge Advisors LLC now owns 315,466 shares of the company’s stock worth $19,736,000 after purchasing an additional 44,148 shares during the last quarter.

Principal U.S. Mega-Cap ETF Price Performance

Shares of NASDAQ USMC opened at $67.73 on Friday. The company has a 50-day simple moving average of $68.40 and a 200-day simple moving average of $67.09. The company has a market cap of $3.11 billion, a PE ratio of 27.59 and a beta of 0.95. Principal U.S. Mega-Cap ETF has a 12 month low of $49.01 and a 12 month high of $70.08.

About Principal U.S. Mega-Cap ETF

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.