Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Increases By 221.1%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 28,900 shares, an increase of 221.1% from the November 30th total of 9,000 shares. Based on an average daily volume of 101,300 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

Several hedge funds and other institutional investors have recently made changes to their positions in USMC. Principal Securities Inc. boosted its position in Principal U.S. Mega-Cap ETF by 2.0% in the third quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock valued at $251,398,000 after buying an additional 86,008 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of 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 valued at $228,485,000 after acquiring an additional 529,078 shares in the last quarter. O Brien Wealth Partners LLC grew its position in Principal U.S. Mega-Cap ETF by 132.9% during the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock worth $47,355,000 after acquiring an additional 474,173 shares during the last quarter. NewEdge Advisors LLC increased 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 purchasing an additional 2,204 shares in the last quarter. Finally, Legacy CG LLC raised its position in Principal U.S. Mega-Cap ETF by 6.1% in the third quarter. Legacy CG LLC now owns 271,867 shares of the company’s stock valued at $15,494,000 after purchasing an additional 15,667 shares during the last quarter.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of Principal U.S. Mega-Cap ETF stock traded down $0.87 during trading on Friday, reaching $60.86. 45,714 shares of the company’s stock were exchanged, compared to its average volume of 84,473. The firm’s 50-day moving average price is $59.50 and its 200 day moving average price is $56.61. The company has a market cap of $2.68 billion, a P/E ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 1-year low of $46.14 and a 1-year high of $61.98.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 27th will be issued a $0.1501 dividend. The ex-dividend date is Friday, December 27th.

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.