Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Trading 0.1% Higher – Here’s Why

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) rose 0.1% on Monday . The company traded as high as $67.27 and last traded at $67.08. Approximately 102,203 shares were traded during trading, a decline of 19% from the average daily volume of 126,568 shares. The stock had previously closed at $67.02.

Principal U.S. Mega-Cap ETF Price Performance

The business has a 50 day simple moving average of $67.72 and a 200 day simple moving average of $67.69. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised 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 worth $1,603,000 after acquiring an additional 184 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 3.1% in the fourth quarter. Advisory Services Network LLC now owns 7,117 shares of the company’s stock valued at $487,000 after purchasing an additional 212 shares in the last quarter. Equitable Holdings Inc. raised its position in Principal U.S. Mega-Cap ETF by 5.5% in the 4th quarter. Equitable Holdings Inc. now owns 4,476 shares of the company’s stock worth $306,000 after purchasing an additional 234 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in Principal U.S. Mega-Cap ETF by 40.8% during the 2nd quarter. Cape Investment Advisory Inc. now owns 883 shares of the company’s stock worth $55,000 after buying an additional 256 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted 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 worth $337,000 after buying an additional 306 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.