Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Large Growth in Short Interest

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 40,600 shares, an increase of 40.5% from the December 15th total of 28,900 shares. Based on an average daily trading volume, of 105,300 shares, the days-to-cover ratio is currently 0.4 days.

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

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in Principal U.S. Mega-Cap ETF by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after acquiring an additional 525 shares during the last quarter. NewEdge Advisors LLC grew its holdings 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 valued at $14,977,000 after buying an additional 2,204 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Principal U.S. Mega-Cap ETF by 12.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock worth $1,635,000 after acquiring an additional 3,158 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter valued at about $201,000. Finally, Stifel Financial Corp purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $237,000.

Principal U.S. Mega-Cap ETF Stock Up 2.1 %

Shares of USMC traded up $1.26 during mid-day trading on Wednesday, reaching $60.34. The company had a trading volume of 36,690 shares, compared to its average volume of 65,561. The stock has a market capitalization of $2.59 billion, a P/E ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52-week low of $46.74 and a 52-week high of $61.98. The stock has a 50 day moving average of $60.11 and a two-hundred day moving average of $57.14.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were given a $0.00 dividend. The ex-dividend date of this dividend was Tuesday, December 31st.

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.