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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 9,800 shares, a decrease of 46.2% from the October 31st total of 18,200 shares. Based on an average trading volume of 65,600 shares, the short-interest ratio is presently 0.1 days.

Principal U.S. Mega-Cap ETF Trading Up 0.8 %

NASDAQ USMC traded up $0.50 during trading hours on Friday, hitting $60.32. The company’s stock had a trading volume of 17,022 shares, compared to its average volume of 78,284. The company’s 50-day simple moving average is $57.82 and its two-hundred day simple moving average is $55.30. The company has a market capitalization of $2.65 billion, a PE ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52 week low of $44.82 and a 52 week high of $60.32.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of USMC. Northwestern Mutual Wealth Management Co. lifted its stake in Principal U.S. Mega-Cap ETF by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,825 shares of the company’s stock valued at $804,000 after acquiring an additional 525 shares in the last quarter. Laidlaw Wealth Management LLC raised its holdings in shares of Principal U.S. Mega-Cap ETF by 9.1% in the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock valued at $528,000 after purchasing an additional 809 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 0.8% during the second quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock valued at $14,977,000 after purchasing an additional 2,204 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Principal U.S. Mega-Cap ETF by 12.4% during the third quarter. CreativeOne Wealth LLC now owns 28,681 shares of the company’s stock worth $1,635,000 after purchasing an additional 3,158 shares during the last quarter. Finally, Blair William & Co. IL bought a new stake in Principal U.S. Mega-Cap ETF in the 2nd quarter worth about $201,000.

Principal U.S. Mega-Cap ETF Company Profile

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.