New Position Acquisition: Elevation Capital Advisory, LLC has established a new position in the Principal U.S. Mega-Cap ETF (NASDAQ:USMC), acquiring 128,122 shares valued at $8.7 million, which represents 3.5% of its reported assets under management.
ETF Performance: As of October 29, the Principal U.S. Mega-Cap ETF shares were priced at $69.85, showing a 20.7% increase over the past year and outperforming the S&P 500 by 2.6 percentage points, with an annualized dividend yield of 0.79%.
Investment Strategy: The ETF focuses on large-cap equities, allocating at least 80% of its assets to companies in the top 50th percentile of the S&P 500 Index, and has a concentrated portfolio with only 24 stocks, where the top 10 positions account for 53.5% of its assets.
Sector Allocation: The largest sector allocation in the ETF is to information technology at 32.3%, followed by financials at 19.8% and communication services at 13.3%, while energy has the lowest allocation at 3.6%.
Wall Street analysts forecast USMC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USMC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast USMC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USMC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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0 Sell
Current: 66.950
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Current: 66.950
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
