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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 4,600 shares, a decline of 83.2% from the August 15th total of 27,300 shares. Based on an average daily trading volume, of 69,600 shares, the days-to-cover ratio is currently 0.1 days.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in USMC. Envestnet Asset Management Inc. increased its stake in Principal U.S. Mega-Cap ETF by 14.4% in the second 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 period. O Brien Wealth Partners LLC purchased a new stake in Principal U.S. Mega-Cap ETF during the 1st quarter valued at approximately $18,054,000. Principal Financial Group Inc. raised its stake in Principal U.S. Mega-Cap ETF by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 35,222,823 shares of the company’s stock valued at $1,906,413,000 after acquiring an additional 120,831 shares during the last quarter. Wells Fargo & Company MN lifted its position in Principal U.S. Mega-Cap ETF by 100.3% during the 4th quarter. Wells Fargo & Company MN now owns 219,096 shares of the company’s stock worth $10,245,000 after acquiring an additional 109,730 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at approximately $1,116,000.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of NASDAQ:USMC traded up $0.48 during trading hours on Thursday, reaching $55.70. The stock had a trading volume of 30,597 shares, compared to its average volume of 80,539. Principal U.S. Mega-Cap ETF has a 1 year low of $40.73 and a 1 year high of $56.09. The firm’s 50 day moving average is $54.49 and its 200-day moving average is $52.53. The stock has a market capitalization of $2.43 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 disclosed a dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, July 1st were issued a dividend of $0.1596 per share. The ex-dividend date of this dividend was Monday, July 1st. This is a boost 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.