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

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

Principal U.S. Mega-Cap ETF Stock Up 1.9 %

Shares of USMC stock opened at $60.86 on Friday. The company’s fifty day simple moving average is $61.25 and its two-hundred day simple moving average is $58.86. Principal U.S. Mega-Cap ETF has a 52 week low of $48.51 and a 52 week high of $63.13. The stock has a market cap of $2.64 billion, a P/E ratio of 27.61 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 31st were given a $0.00 dividend. The ex-dividend date was Tuesday, December 31st.

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

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