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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL acquired a new position in Principal U.S. Mega-Cap ETF during the 2nd quarter worth about $201,000. Envestnet Asset Management Inc. lifted its holdings in Principal U.S. Mega-Cap ETF by 14.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock worth $228,485,000 after buying an additional 529,078 shares during the period. Laidlaw Wealth Management LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 9.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after buying an additional 809 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 22.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 69,521 shares of the company’s stock worth $3,772,000 after buying an additional 12,743 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Principal U.S. Mega-Cap ETF by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock worth $1,906,413,000 after buying an additional 120,831 shares during the period.

Principal U.S. Mega-Cap ETF Price Performance

USMC stock traded up $0.72 during midday trading on Tuesday, reaching $53.73. 22,386 shares of the stock were exchanged, compared to its average volume of 84,035. The stock has a market capitalization of $2.34 billion, a PE ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52 week low of $40.73 and a 52 week high of $55.90. The company has a fifty day moving average price of $53.87 and a 200 day moving average price of $51.68.

Principal U.S. Mega-Cap ETF Increases Dividend

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

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.