Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 48.5% in February

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 22,400 shares, a drop of 48.5% from the January 31st total of 43,500 shares. Based on an average daily trading volume, of 128,600 shares, the days-to-cover ratio is presently 0.2 days.

Principal U.S. Mega-Cap ETF Price Performance

Shares of NASDAQ:USMC traded up $1.12 during midday trading on Friday, reaching $60.86. The company’s stock had a trading volume of 272,534 shares, compared to its average volume of 126,706. Principal U.S. Mega-Cap ETF has a fifty-two week low of $48.51 and a fifty-two week high of $63.13. The company has a market capitalization of $2.64 billion, a P/E ratio of 27.61 and a beta of 0.92. The business’s fifty day simple moving average is $61.25 and its 200-day simple moving average is $58.90.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were given a $0.00 dividend. The ex-dividend date was Tuesday, December 31st.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in Principal U.S. Mega-Cap ETF by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,356 shares of the company’s stock worth $1,282,000 after purchasing an additional 462 shares during the period. Segment Wealth Management LLC increased its position in Principal U.S. Mega-Cap ETF by 0.9% in the fourth quarter. Segment Wealth Management LLC now owns 253,506 shares of the company’s stock worth $15,218,000 after purchasing an additional 2,221 shares during the period. Stifel Financial Corp acquired a new stake in Principal U.S. Mega-Cap ETF in the third quarter worth about $237,000. Smartleaf Asset Management LLC increased its position in Principal U.S. Mega-Cap ETF by 196.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 33,093 shares of the company’s stock worth $1,990,000 after purchasing an additional 21,940 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the third quarter worth about $7,489,000.

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.