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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 26,200 shares, a growth of 23.6% from the May 15th total of 21,200 shares. Based on an average daily volume of 123,100 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Principal U.S. Mega-Cap ETF Trading Down 0.4%

USMC opened at $60.45 on Thursday. Principal U.S. Mega-Cap ETF has a twelve month low of $49.01 and a twelve month high of $63.13. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 26.58 and a beta of 0.92. The company has a fifty day simple moving average of $58.21 and a 200 day simple moving average of $59.17.

Principal U.S. Mega-Cap ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Tuesday, April 1st were given a $0.1323 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.53 dividend on an annualized basis and a yield of 0.88%.

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

Several large investors have recently modified their holdings of the business. Cape Investment Advisory Inc. boosted its holdings in Principal U.S. Mega-Cap ETF by 747.3% in the first quarter. Cape Investment Advisory Inc. now owns 627 shares of the company’s stock valued at $36,000 after purchasing an additional 553 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Principal U.S. Mega-Cap ETF by 50.8% in the 1st quarter. NewEdge Advisors LLC now owns 271,318 shares of the company’s stock valued at $15,405,000 after purchasing an additional 91,444 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Principal U.S. Mega-Cap ETF by 1.6% during the 1st quarter. EP Wealth Advisors LLC now owns 130,569 shares of the company’s stock valued at $7,414,000 after buying an additional 2,004 shares during the last quarter. Royal Bank of Canada grew its position in shares of Principal U.S. Mega-Cap ETF by 19.4% during the first quarter. Royal Bank of Canada now owns 60,688 shares of the company’s stock worth $3,446,000 after buying an additional 9,858 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of Principal U.S. Mega-Cap ETF by 19.0% in the first quarter. CreativeOne Wealth LLC now owns 36,277 shares of the company’s stock worth $2,060,000 after buying an additional 5,793 shares during the last quarter.

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.