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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 18,200 shares, a growth of 82.0% from the October 15th total of 10,000 shares. Based on an average daily volume of 64,500 shares, the days-to-cover ratio is presently 0.3 days.

Principal U.S. Mega-Cap ETF Stock Down 0.6 %

Shares of USMC traded down $0.38 during midday trading on Friday, hitting $58.39. The company had a trading volume of 52,558 shares, compared to its average volume of 78,232. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. The company’s 50 day moving average price is $57.06 and its 200 day moving average price is $54.67. Principal U.S. Mega-Cap ETF has a 52 week low of $44.38 and a 52 week high of $59.74.

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

Several hedge funds and other institutional investors have recently bought and sold shares of USMC. Blair William & Co. IL acquired a new position in Principal U.S. Mega-Cap ETF in the second quarter valued at approximately $201,000. Stifel Financial Corp acquired a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at approximately $237,000. Retireful LLC bought a new position in Principal U.S. Mega-Cap ETF during the 3rd quarter worth $468,000. CreativeOne Wealth LLC acquired a new stake in Principal U.S. Mega-Cap ETF in the first quarter worth $522,000. Finally, Laidlaw Wealth Management LLC increased its position in 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 worth $528,000 after buying an additional 809 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.