Elevation Capital Advisory LLC Makes New $8.73 Million Investment in Principal U.S. Mega-Cap ETF $USMC

Elevation Capital Advisory LLC purchased a new stake in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 128,122 shares of the company’s stock, valued at approximately $8,734,000. Principal U.S. Mega-Cap ETF accounts for about 3.5% of Elevation Capital Advisory LLC’s holdings, making the stock its 8th largest position. Elevation Capital Advisory LLC owned 0.27% of Principal U.S. Mega-Cap ETF as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Systelligence LLC bought a new stake in Principal U.S. Mega-Cap ETF in the second quarter valued at approximately $4,229,000. Orion Porfolio Solutions LLC lifted its position in shares of 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 worth $16,803,000 after purchasing an additional 60,344 shares during the period. NewEdge Advisors LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 16.3% in 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 period. Jane Street Group LLC bought a new stake in shares of Principal U.S. Mega-Cap ETF in the 2nd quarter valued at $2,725,000. Finally, US Bancorp DE increased its position in shares of Principal U.S. Mega-Cap ETF by 554.2% during the second quarter. US Bancorp DE now owns 42,761 shares of the company’s stock worth $2,675,000 after buying an additional 36,225 shares during the period.

Principal U.S. Mega-Cap ETF Stock Up 0.8%

USMC stock opened at $67.47 on Friday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The company’s fifty day simple moving average is $68.29 and its 200 day simple moving average is $66.83. 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.