Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 32.0% in March

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 16,600 shares, a drop of 32.0% from the February 28th total of 24,400 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 117,200 shares, the days-to-cover ratio is presently 0.1 days.

Principal U.S. Mega-Cap ETF Stock Performance

NASDAQ:USMC opened at $56.78 on Tuesday. The company has a fifty day moving average of $60.07 and a two-hundred day moving average of $59.26. Principal U.S. Mega-Cap ETF has a fifty-two week low of $48.52 and a fifty-two week high of $63.13. The stock has a market capitalization of $2.49 billion, a PE ratio of 26.08 and a beta of 0.93.

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

A number of hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance acquired a new stake in Principal U.S. Mega-Cap ETF during the 4th quarter worth $230,000. Stifel Financial Corp purchased a new stake in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at about $237,000. Cornerstone Wealth Management LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the 4th quarter valued at about $274,000. Blair William & Co. IL boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 26.7% during the 4th quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock worth $281,000 after purchasing an additional 986 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF in the fourth quarter valued at approximately $324,000.

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.