Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Update

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 27,300 shares, a growth of 131.4% from the July 31st total of 11,800 shares. Based on an average trading volume of 73,300 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC purchased a new position in Principal U.S. Mega-Cap ETF during the first quarter valued at approximately $50,000. International Assets Investment Management LLC grew its position in Principal U.S. Mega-Cap ETF by 2,902.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,432 shares of the company’s stock valued at $114,000 after purchasing an additional 2,351 shares in the last quarter. Blair William & Co. IL purchased a new position in Principal U.S. Mega-Cap ETF during the second quarter valued at approximately $201,000. Laidlaw Wealth Management LLC grew its position in Principal U.S. Mega-Cap ETF by 9.1% during the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock valued at $528,000 after purchasing an additional 809 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Principal U.S. Mega-Cap ETF during the first quarter valued at approximately $522,000.

Principal U.S. Mega-Cap ETF Stock Up 1.1 %

Shares of USMC stock traded up $0.63 during trading hours on Friday, reaching $56.05. 19,673 shares of the stock traded hands, compared to its average volume of 82,669. Principal U.S. Mega-Cap ETF has a 1-year low of $40.73 and a 1-year high of $56.09. The business has a fifty day moving average price of $54.35 and a 200 day moving average price of $52.19. The firm has a market capitalization of $2.45 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 declared a dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, July 1st were issued a dividend of $0.1596 per share. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15.

Principal U.S. Mega-Cap ETF Company Profile

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.