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 increase in short interest during the month of March. As of March 15th, there was short interest totalling 29,600 shares, an increase of 111.4% from the February 29th total of 14,000 shares. Based on an average daily volume of 110,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of USMC. Comerica Bank purchased a new position in shares of Principal U.S. Mega-Cap ETF in the 4th quarter worth about $90,000. International Assets Investment Management LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 2,902.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,432 shares of the company’s stock valued at $114,000 after buying an additional 2,351 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Principal U.S. Mega-Cap ETF during the 1st quarter worth $207,000. Laidlaw Wealth Management LLC purchased a new stake in Principal U.S. Mega-Cap ETF in the 3rd quarter worth about $312,000. Finally, Osaic Holdings Inc. raised its stake in Principal U.S. Mega-Cap ETF by 15.2% in the 2nd quarter. Osaic Holdings Inc. now owns 7,988 shares of the company’s stock valued at $348,000 after acquiring an additional 1,056 shares during the period.

Principal U.S. Mega-Cap ETF Stock Performance

NASDAQ:USMC opened at $51.36 on Friday. Principal U.S. Mega-Cap ETF has a 52 week low of $38.83 and a 52 week high of $51.79. The firm has a 50-day moving average price of $50.00 and a two-hundred day moving average price of $46.48. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 17.66 and a beta of 0.92.

About Principal U.S. Mega-Cap ETF

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.