Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Up 90.3% in July

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 11,800 shares, a growth of 90.3% from the July 15th total of 6,200 shares. Based on an average daily volume of 72,600 shares, the days-to-cover ratio is currently 0.2 days.

Principal U.S. Mega-Cap ETF Stock Up 1.8 %

NASDAQ:USMC traded up $0.98 during trading hours on Thursday, hitting $54.92. 38,714 shares of the company traded hands, compared to its average volume of 83,326. The company has a market cap of $2.40 billion, a PE ratio of 26.66 and a beta of 0.92. The firm’s 50-day simple moving average is $53.98 and its 200-day simple moving average is $51.76. Principal U.S. Mega-Cap ETF has a one year low of $40.73 and a one year high of $55.90.

Principal U.S. Mega-Cap ETF Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, July 1st were issued a $0.1596 dividend. 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Principal U.S. Mega-Cap ETF by 35.7% during the fourth quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock worth $1,757,156,000 after acquiring an additional 9,881,752 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Principal U.S. Mega-Cap ETF by 14.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,211,701 shares of the company’s stock valued at $228,485,000 after purchasing an additional 529,078 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth $78,408,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 25.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 431,853 shares of the company’s stock worth $22,180,000 after buying an additional 88,479 shares during the last quarter. Finally, Legacy CG LLC grew its position in Principal U.S. Mega-Cap ETF by 10.0% during the first quarter. Legacy CG LLC now owns 362,439 shares of the company’s stock valued at $18,615,000 after buying an additional 32,978 shares during the period.

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.