Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Grows By 111.4%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 29,600 shares, an increase of 111.4% from the February 29th total of 14,000 shares. Based on an average daily trading volume, of 110,300 shares, the days-to-cover ratio is presently 0.3 days.

Principal U.S. Mega-Cap ETF Stock Up 0.5 %

Principal U.S. Mega-Cap ETF stock opened at $51.37 on Thursday. Principal U.S. Mega-Cap ETF has a 12 month low of $38.41 and a 12 month high of $51.79. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 17.66 and a beta of 0.92. The business has a 50 day moving average price of $50.00 and a two-hundred day moving average price of $46.48.

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

A number of institutional investors have recently bought and sold shares of USMC. Comerica Bank bought a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth about $90,000. International Assets Investment Management LLC lifted its stake in Principal U.S. Mega-Cap ETF by 2,902.5% during the fourth quarter. International Assets Investment Management LLC now owns 2,432 shares of the company’s stock worth $114,000 after purchasing an additional 2,351 shares during the period. Atria Wealth Solutions Inc. bought a new position in Principal U.S. Mega-Cap ETF during the first quarter worth about $207,000. Laidlaw Wealth Management LLC acquired a new stake in Principal U.S. Mega-Cap ETF during the third quarter valued at approximately $312,000. Finally, Osaic Holdings Inc. grew its stake in shares of Principal U.S. Mega-Cap ETF by 15.2% in the 2nd quarter. Osaic Holdings Inc. now owns 7,988 shares of the company’s stock valued at $348,000 after purchasing an additional 1,056 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.