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 drop in short interest during the month of July. As of July 31st, there was short interest totaling 30,874 shares, a drop of 39.1% from the July 15th total of 50,708 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 89,696 shares, the short-interest ratio is currently 0.3 days.

Principal U.S. Mega-Cap ETF Stock Down 0.2%

Shares of NASDAQ:USMC opened at $76.46 on Tuesday. The stock has a market capitalization of $3.69 billion, a PE ratio of 27.59 and a beta of 0.95. The firm’s 50 day moving average price is $74.23 and its 200-day moving average price is $70.55. Principal U.S. Mega-Cap ETF has a twelve month low of $62.28 and a twelve month high of $76.96.

Principal U.S. Mega-Cap ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, July 1st were given a $0.139 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $0.56 annualized dividend and a yield of 0.7%.

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

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in Principal U.S. Mega-Cap ETF by 19.4% in the 1st quarter. Royal Bank of Canada now owns 60,688 shares of the company’s stock worth $3,446,000 after purchasing an additional 9,858 shares during the period. JPMorgan Chase & Co. grew its holdings in Principal U.S. Mega-Cap ETF by 39.5% during the second quarter. JPMorgan Chase & Co. now owns 33,229 shares of the company’s stock valued at $2,079,000 after purchasing an additional 9,406 shares during the period. Marshall Wace LLP bought a new stake in Principal U.S. Mega-Cap ETF during the second quarter valued at about $245,000. Jane Street Group LLC bought a new stake in Principal U.S. Mega-Cap ETF during the second quarter valued at about $2,725,000. Finally, EP Wealth Advisors LLC increased its position in Principal U.S. Mega-Cap ETF by 2.0% in the second quarter. EP Wealth Advisors LLC now owns 133,231 shares of the company’s stock worth $8,335,000 after buying an additional 2,662 shares in the last quarter.

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.