Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Strong Trading Volume – Should You Buy?

Shares of Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw unusually-high trading volume on Friday . Approximately 141,203 shares were traded during mid-day trading, an increase of 118% from the previous session’s volume of 64,847 shares.The stock last traded at $60.65 and had previously closed at $59.93.

Principal U.S. Mega-Cap ETF Stock Up 1.2 %

The company’s 50 day simple moving average is $60.17 and its 200-day simple moving average is $57.19. The firm has a market cap of $2.61 billion, a P/E ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were paid a dividend of $0.00 per share. The ex-dividend date was Tuesday, December 31st.

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

Several hedge funds have recently bought and sold shares of USMC. Blair William & Co. IL bought a new stake in shares of Principal U.S. Mega-Cap ETF during the second quarter worth $201,000. NewEdge Advisors LLC increased its stake in Principal U.S. Mega-Cap ETF by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after buying an additional 2,204 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Principal U.S. Mega-Cap ETF by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after buying an additional 525 shares in the last quarter. Raymond James & Associates boosted its position in Principal U.S. Mega-Cap ETF by 3.2% in the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after buying an additional 7,744 shares during the period. Finally, Jackson Wealth Management LLC grew its stake in Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock worth $4,486,000 after acquiring an additional 30,714 shares in the last quarter.

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.