Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Significant Decrease in Short Interest

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 9,800 shares, a decline of 46.2% from the October 31st total of 18,200 shares. Based on an average daily trading volume, of 65,600 shares, the short-interest ratio is currently 0.1 days.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of USMC stock traded up $0.50 on Friday, hitting $60.32. The company had a trading volume of 17,022 shares, compared to its average volume of 78,284. Principal U.S. Mega-Cap ETF has a twelve month low of $44.82 and a twelve month high of $60.32. The firm has a market cap of $2.65 billion, a P/E ratio of 26.66 and a beta of 0.92. The stock’s 50-day moving average is $57.82 and its two-hundred day moving average is $55.30.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the second quarter worth $201,000. Stifel Financial Corp bought a new position in shares of Principal U.S. Mega-Cap ETF during the 3rd quarter worth about $237,000. Retireful LLC acquired a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter worth approximately $468,000. Laidlaw Wealth Management LLC boosted its holdings in Principal U.S. Mega-Cap ETF by 9.1% in the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after acquiring an additional 809 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter valued at approximately $783,000.

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.