Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 20.8% in April

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 17,500 shares, a drop of 20.8% from the March 31st total of 22,100 shares. Based on an average daily volume of 111,600 shares, the short-interest ratio is currently 0.2 days.

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

A number of large investors have recently added to or reduced their stakes in USMC. Commonwealth Equity Services LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 37.3% in the third quarter. Commonwealth Equity Services LLC now owns 54,546 shares of the company’s stock worth $2,337,000 after buying an additional 14,823 shares during the period. Raymond James & Associates increased its holdings in shares of Principal U.S. Mega-Cap ETF by 2.4% in the third quarter. Raymond James & Associates now owns 179,688 shares of the company’s stock worth $7,698,000 after buying an additional 4,284 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth about $15,430,000. J.P. Morgan Private Wealth Advisors LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 16.6% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 17,612 shares of the company’s stock worth $754,000 after buying an additional 2,510 shares during the period. Finally, Laidlaw Wealth Management LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth about $312,000.

Principal U.S. Mega-Cap ETF Price Performance

NASDAQ USMC traded down $0.45 during trading hours on Tuesday, reaching $49.52. 62,200 shares of the stock traded hands, compared to its average volume of 97,658. The stock has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $47.57. Principal U.S. Mega-Cap ETF has a 1 year low of $39.38 and a 1 year high of $51.79. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 26.66 and a beta of 0.98.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.1548 per share. The ex-dividend date was Monday, April 1st.

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.