Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Grows By 90.3%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 11,800 shares, an increase of 90.3% from the July 15th total of 6,200 shares. Based on an average daily volume of 72,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of institutional investors have recently modified their holdings of the company. Legacy CG LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the 4th quarter worth $15,406,000. Principal Securities Inc. purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the fourth quarter worth about $78,408,000. Principal Financial Group Inc. grew its stake in shares of Principal U.S. Mega-Cap ETF by 35.7% in the fourth quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock valued at $1,757,156,000 after buying an additional 9,881,752 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Principal U.S. Mega-Cap ETF by 100.3% during the 4th quarter. Wells Fargo & Company MN now owns 219,096 shares of the company’s stock valued at $10,245,000 after buying an additional 109,730 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Principal U.S. Mega-Cap ETF by 2,902.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,432 shares of the company’s stock worth $114,000 after acquiring an additional 2,351 shares in the last quarter.

Principal U.S. Mega-Cap ETF Stock Performance

Principal U.S. Mega-Cap ETF stock traded up $0.98 during midday trading on Thursday, reaching $54.92. The stock had a trading volume of 38,714 shares, compared to its average volume of 83,326. The stock’s 50-day simple moving average is $53.98 and its 200 day simple moving average is $51.76. Principal U.S. Mega-Cap ETF has a twelve month low of $40.73 and a twelve month high of $55.90. The stock has a market capitalization of $2.40 billion, a PE ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, July 1st were paid a $0.1596 dividend. This is a positive change from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, July 1st.

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.