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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 20,413 shares, a drop of 47.2% from the August 15th total of 38,646 shares. Based on an average daily trading volume, of 113,973 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Hedge Funds Weigh In On Principal U.S. Mega-Cap ETF

Large investors have recently bought and sold shares of the stock. Principal Securities Inc. grew its stake in shares of Principal U.S. Mega-Cap ETF by 2.1% during the 4th quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after buying an additional 91,106 shares during the period. Symphony Financial Services Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 6.1% in the first quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock valued at $15,603,000 after acquiring an additional 13,925 shares during the last quarter. Royal Bank of Canada grew its position in Principal U.S. Mega-Cap ETF by 35.4% during the first quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock valued at $7,549,000 after acquiring an additional 30,690 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the second quarter valued at about $6,818,000. Finally, Greenwood Capital Associates LLC increased its stake in Principal U.S. Mega-Cap ETF by 14.8% during the first quarter. Greenwood Capital Associates LLC now owns 35,210 shares of the company’s stock worth $2,264,000 after acquiring an additional 4,552 shares during the last quarter.

Principal U.S. Mega-Cap ETF Trading Down 0.5%

Shares of NASDAQ USMC traded down $0.36 on Wednesday, reaching $75.21. 276,584 shares of the company traded hands, compared to its average volume of 110,690. Principal U.S. Mega-Cap ETF has a fifty-two week low of $62.28 and a fifty-two week high of $77.20. The company has a 50 day moving average of $75.42 and a 200 day moving average of $71.93. The stock has a market capitalization of $5.02 billion, a PE ratio of 27.59 and a beta of 0.95.

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.