Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Update

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 24,600 shares, a decrease of 24.3% from the September 15th total of 32,500 shares. Based on an average daily volume of 68,900 shares, the short-interest ratio is presently 0.4 days.

Principal U.S. Mega-Cap ETF Price Performance

Principal U.S. Mega-Cap ETF stock traded down $0.46 during mid-day trading on Tuesday, hitting $57.28. The company’s stock had a trading volume of 12,064 shares, compared to its average volume of 76,580. The firm’s 50 day moving average is $55.54 and its 200 day moving average is $53.46. The company has a market cap of $2.56 billion, a PE ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52-week low of $40.73 and a 52-week high of $57.79.

Institutional Investors Weigh In On Principal U.S. Mega-Cap ETF

Several hedge funds have recently bought and sold shares of the business. Blair William & Co. IL purchased a new stake in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter worth about $201,000. CreativeOne Wealth LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the 1st quarter valued at approximately $522,000. Laidlaw Wealth Management LLC grew its holdings in shares of Principal U.S. Mega-Cap ETF by 9.1% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after purchasing an additional 809 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Principal U.S. Mega-Cap ETF by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock worth $804,000 after purchasing an additional 525 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the 1st quarter worth approximately $1,116,000.

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.