Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Update

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 26,200 shares, a growth of 23.6% from the May 15th total of 21,200 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 123,100 shares, the days-to-cover ratio is currently 0.2 days.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of USMC stock opened at $60.45 on Thursday. Principal U.S. Mega-Cap ETF has a 1 year low of $49.01 and a 1 year high of $63.13. The firm has a market capitalization of $2.74 billion, a PE ratio of 26.58 and a beta of 0.92. The stock has a fifty day moving average of $58.21 and a two-hundred day moving average of $59.17.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Tuesday, April 1st were issued a $0.1323 dividend. This represents a $0.53 annualized dividend and a yield of 0.88%. The ex-dividend date was Tuesday, April 1st.

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

A number of institutional investors and hedge funds have recently bought and sold shares of USMC. Cape Investment Advisory Inc. raised its position in shares of Principal U.S. Mega-Cap ETF by 747.3% during the 1st quarter. Cape Investment Advisory Inc. now owns 627 shares of the company’s stock worth $36,000 after buying an additional 553 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Principal U.S. Mega-Cap ETF during the first quarter worth approximately $63,000. Cetera Investment Advisers bought a new stake in Principal U.S. Mega-Cap ETF during the first quarter worth approximately $217,000. Independent Advisor Alliance acquired a new stake in Principal U.S. Mega-Cap ETF in the fourth quarter worth approximately $230,000. Finally, Private Advisor Group LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the first quarter worth approximately $256,000.

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.