Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Expands By 221.1%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 28,900 shares, an increase of 221.1% from the November 30th total of 9,000 shares. Based on an average trading volume of 101,300 shares, the days-to-cover ratio is currently 0.3 days.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of NASDAQ:USMC traded down $0.87 during mid-day trading on Friday, reaching $60.86. 45,714 shares of the company’s stock were exchanged, compared to its average volume of 84,473. Principal U.S. Mega-Cap ETF has a twelve month low of $46.14 and a twelve month high of $61.98. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The business’s fifty day moving average price is $59.50 and its 200-day moving average price is $56.61.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 27th will be given a $0.1501 dividend. The ex-dividend date is Friday, December 27th.

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

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 14.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock valued at $228,485,000 after acquiring an additional 529,078 shares during the last quarter. Jackson Wealth Management LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock valued at $4,486,000 after purchasing an additional 30,714 shares during the last quarter. Silver Oak Securities Incorporated bought a new position in Principal U.S. Mega-Cap ETF during the third quarter worth $783,000. Raymond James & Associates lifted 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 buying an additional 7,744 shares during the period. Finally, NewEdge Advisors LLC boosted its position in Principal U.S. Mega-Cap ETF by 0.8% during the second 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 during the last quarter.

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.