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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant 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 short-interest ratio is currently 0.4 days.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of Principal U.S. Mega-Cap ETF stock traded down $0.09 during midday trading on Thursday, hitting $60.32. The company had a trading volume of 9,850 shares, compared to its average volume of 61,975. Principal U.S. Mega-Cap ETF has a 52-week low of $46.74 and a 52-week high of $61.98. The stock has a market capitalization of $2.59 billion, a P/E ratio of 26.66 and a beta of 0.92. The company has a 50 day moving average of $60.15 and a 200 day moving average of $57.17.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced 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

Large investors have recently modified their holdings of the stock. Principal Securities Inc. increased its stake in Principal U.S. Mega-Cap ETF by 2.0% during the 3rd 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 in the last quarter. O Brien Wealth Partners LLC raised its holdings 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 worth $47,355,000 after acquiring an additional 474,173 shares during the last quarter. NewEdge Advisors LLC lifted its position in Principal U.S. Mega-Cap ETF by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock valued at $14,977,000 after acquiring an additional 2,204 shares in the last quarter. Legacy CG LLC boosted its stake in Principal U.S. Mega-Cap ETF by 6.1% during the 3rd quarter. Legacy CG LLC now owns 271,867 shares of the company’s stock valued at $15,494,000 after purchasing an additional 15,667 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Principal U.S. Mega-Cap ETF by 3.2% in the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock worth $14,396,000 after purchasing an additional 7,744 shares in the last quarter.

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.