Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 48.5% in February

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 22,400 shares, a drop of 48.5% from the January 31st total of 43,500 shares. Based on an average daily trading volume, of 128,600 shares, the short-interest ratio is presently 0.2 days.

Principal U.S. Mega-Cap ETF Stock Performance

USMC traded up $1.12 during midday trading on Friday, reaching $60.86. 272,534 shares of the company were exchanged, compared to its average volume of 126,706. Principal U.S. Mega-Cap ETF has a one year low of $48.51 and a one year high of $63.13. The stock has a market capitalization of $2.64 billion, a P/E ratio of 27.61 and a beta of 0.92. The stock’s 50-day simple moving average is $61.25 and its 200 day simple moving average is $58.90.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.00 per share. The ex-dividend date of this dividend was Tuesday, December 31st.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USMC. Raymond James Financial Inc. bought a new position in Principal U.S. Mega-Cap ETF during the fourth quarter worth about $40,822,000. Golden State Wealth Management LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter valued at about $11,093,000. Orion Portfolio Solutions LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the 4th quarter valued at about $8,728,000. O Brien Wealth Partners LLC lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 16.0% during the 4th quarter. O Brien Wealth Partners LLC now owns 963,761 shares of the company’s stock valued at $57,855,000 after purchasing an additional 132,829 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $7,489,000.

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.