Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Up 606.5% in September

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 32,500 shares, a growth of 606.5% from the August 31st total of 4,600 shares. Based on an average daily trading volume, of 70,200 shares, the short-interest ratio is presently 0.5 days.

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

Institutional investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the first quarter worth $50,000. Blair William & Co. IL bought a new position in shares of Principal U.S. Mega-Cap ETF during the second quarter valued at approximately $201,000. CreativeOne Wealth LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the 1st quarter worth about $522,000. Laidlaw Wealth Management LLC boosted its position in 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 valued at $528,000 after acquiring an additional 809 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Principal U.S. Mega-Cap ETF by 3.7% in the second 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.

Principal U.S. Mega-Cap ETF Price Performance

USMC traded up $0.08 during mid-day trading on Friday, hitting $56.78. The stock had a trading volume of 45,473 shares, compared to its average volume of 78,030. Principal U.S. Mega-Cap ETF has a 1-year low of $40.73 and a 1-year high of $56.98. The stock’s fifty day simple moving average is $54.71 and its 200-day simple moving average is $52.95. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, July 1st were given a dividend of $0.1596 per share. The ex-dividend date was Monday, July 1st. This is an increase from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15.

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.