Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Rises By 40.5%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 40,600 shares, a growth of 40.5% from the December 15th total of 28,900 shares. Based on an average daily volume of 105,300 shares, the days-to-cover ratio is currently 0.4 days.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of Principal U.S. Mega-Cap ETF stock traded up $1.26 on Wednesday, reaching $60.34. The company had a trading volume of 36,690 shares, compared to its average volume of 65,561. The firm has a market cap of $2.59 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 $46.74 and a 52-week high of $61.98. The firm’s 50 day moving average price is $60.11 and its two-hundred day moving average price is $57.14.

Principal U.S. Mega-Cap ETF Cuts Dividend

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

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

Hedge funds have recently bought and sold shares of the company. Principal Securities Inc. boosted its stake in shares of 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 purchasing an additional 86,008 shares during the period. O Brien Wealth Partners LLC boosted its position in Principal U.S. Mega-Cap ETF by 132.9% in the 3rd quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock valued at $47,355,000 after buying an additional 474,173 shares during the period. NewEdge Advisors LLC grew its stake in shares of Principal U.S. Mega-Cap ETF by 0.8% in the second quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after acquiring an additional 2,204 shares in the last quarter. Legacy CG LLC raised its stake in shares of 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 acquiring an additional 15,667 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Principal U.S. Mega-Cap ETF by 3.2% in the third quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after purchasing an additional 7,744 shares during the period.

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.