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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 24,600 shares, a decrease of 24.3% from the September 15th total of 32,500 shares. Based on an average daily volume of 68,900 shares, the short-interest ratio is currently 0.4 days.

Principal U.S. Mega-Cap ETF Stock Performance

Principal U.S. Mega-Cap ETF stock traded up $0.23 during trading on Friday, reaching $57.43. 28,400 shares of the company’s stock were exchanged, compared to its average volume of 77,082. The company’s 50-day moving average is $55.41 and its two-hundred day moving average is $53.40. Principal U.S. Mega-Cap ETF has a 52-week low of $40.73 and a 52-week high of $57.51. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

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

A number of institutional investors have recently added to or reduced their stakes in USMC. Northwestern Mutual Wealth Management Co. lifted 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 worth $804,000 after buying an additional 525 shares in the last quarter. Laidlaw Wealth Management LLC lifted its holdings in Principal U.S. Mega-Cap ETF by 9.1% in 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 in the last quarter. NewEdge Advisors LLC lifted 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 worth $14,977,000 after buying an additional 2,204 shares in the last quarter. Blair William & Co. IL acquired a new position in Principal U.S. Mega-Cap ETF in the 2nd quarter worth $201,000. Finally, Raymond James & Associates lifted its holdings in Principal U.S. Mega-Cap ETF by 3.8% in the 2nd quarter. Raymond James & Associates now owns 244,868 shares of the company’s stock worth $13,284,000 after buying an additional 8,872 shares in the last quarter.

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.