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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 41,541 shares, a growth of 103.5% from the August 31st total of 20,413 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 57,933 shares, the days-to-cover ratio is currently 0.7 days.

Principal U.S. Mega-Cap ETF Trading Down 0.6%

Shares of Principal U.S. Mega-Cap ETF stock traded down $0.47 on Monday, reaching $77.06. 4,861 shares of the company were exchanged, compared to its average volume of 107,715. Principal U.S. Mega-Cap ETF has a one year low of $62.28 and a one year high of $77.69. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 27.59 and a beta of 0.95. The company has a 50-day moving average of $75.79 and a 200 day moving average of $72.43.

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

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in Principal U.S. Mega-Cap ETF by 2.0% during the second quarter. Envestnet Asset Management Inc. now owns 4,575,742 shares of the company’s stock worth $339,185,000 after acquiring an additional 91,195 shares in the last quarter. Principal Securities Inc. grew its position in shares of Principal U.S. Mega-Cap ETF by 2.1% in the 4th quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock valued at $306,013,000 after acquiring an additional 91,106 shares during the period. Symphony Financial Services Inc. increased its stake in shares of Principal U.S. Mega-Cap ETF by 6.1% during the 1st quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock worth $15,603,000 after purchasing an additional 13,925 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Principal U.S. Mega-Cap ETF by 35.4% during the 1st quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock worth $7,549,000 after purchasing an additional 30,690 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Principal U.S. Mega-Cap ETF during the 2nd quarter worth about $6,818,000.

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.