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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 18,200 shares, a growth of 82.0% from the October 15th total of 10,000 shares. Based on an average daily volume of 64,500 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Principal U.S. Mega-Cap ETF

A number of institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Principal U.S. Mega-Cap ETF by 14.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock worth $228,485,000 after acquiring an additional 529,078 shares in the last quarter. O Brien Wealth Partners LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 132.9% in the third quarter. O Brien Wealth Partners LLC now owns 830,932 shares of the company’s stock worth $47,355,000 after purchasing an additional 474,173 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter worth approximately $7,489,000. Principal Financial Group Inc. boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 0.3% during the second quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock worth $1,906,413,000 after purchasing an additional 120,831 shares during the period. Finally, Principal Securities Inc. grew its position in Principal U.S. Mega-Cap ETF by 2.0% during the third quarter. Principal Securities Inc. now owns 4,411,268 shares of the company’s stock valued at $251,398,000 after purchasing an additional 86,008 shares in the last quarter.

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

USMC stock traded down $0.38 during trading on Friday, reaching $58.39. 52,558 shares of the company’s stock were exchanged, compared to its average volume of 78,232. The firm has a market cap of $2.57 billion, a PE ratio of 26.66 and a beta of 0.92. The company’s fifty day moving average price is $57.06 and its 200-day moving average price is $54.67. Principal U.S. Mega-Cap ETF has a 1-year low of $44.38 and a 1-year high of $59.74.

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.