Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Decreases By 55.7%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 6,200 shares, a drop of 55.7% from the June 30th total of 14,000 shares. Based on an average daily trading volume, of 75,700 shares, the days-to-cover ratio is currently 0.1 days.

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

Shares of USMC stock traded up $0.41 during trading hours on Friday, reaching $53.51. 39,178 shares of the company’s stock were exchanged, compared to its average volume of 88,163. The business has a fifty day moving average price of $53.69 and a 200-day moving average price of $51.23. The stock has a market capitalization of $2.41 billion, a P/E ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a fifty-two week low of $40.73 and a fifty-two week high of $55.90.

Principal U.S. Mega-Cap ETF Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, July 1st were issued a $0.1596 dividend. The ex-dividend date of this dividend was Monday, July 1st. This is an increase from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15.

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

Several hedge funds and other institutional investors have recently bought and sold shares of USMC. Principal Financial Group Inc. lifted its position in shares of Principal U.S. Mega-Cap ETF by 35.7% in the 4th quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock worth $1,757,156,000 after acquiring an additional 9,881,752 shares during the period. Principal Securities Inc. bought a new position in Principal U.S. Mega-Cap ETF in the fourth quarter worth $78,408,000. Envestnet Asset Management Inc. boosted its stake in Principal U.S. Mega-Cap ETF by 11.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,640,739 shares of the company’s stock worth $76,721,000 after buying an additional 165,820 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Principal U.S. Mega-Cap ETF by 25.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 431,853 shares of the company’s stock valued at $22,180,000 after buying an additional 88,479 shares during the period. Finally, Legacy CG LLC lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 10.0% during the 1st quarter. Legacy CG LLC now owns 362,439 shares of the company’s stock worth $18,615,000 after acquiring an additional 32,978 shares during the period.

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.