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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 28,900 shares, a growth of 221.1% from the November 30th total of 9,000 shares. Based on an average trading volume of 101,300 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USMC. Envestnet Asset Management Inc. lifted 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 buying an additional 529,078 shares during the last quarter. Jackson Wealth Management LLC increased its holdings in shares of Principal U.S. Mega-Cap ETF by 64.0% in the 3rd quarter. Jackson Wealth Management LLC now owns 78,721 shares of the company’s stock worth $4,486,000 after acquiring an additional 30,714 shares during the period. Silver Oak Securities Incorporated bought a new stake in Principal U.S. Mega-Cap ETF in the 3rd quarter valued at about $783,000. Raymond James & Associates boosted its stake in Principal U.S. Mega-Cap ETF by 3.2% during the 3rd quarter. Raymond James & Associates now owns 252,612 shares of the company’s stock valued at $14,396,000 after purchasing an additional 7,744 shares during the period. Finally, NewEdge Advisors LLC grew its position in Principal U.S. Mega-Cap ETF by 0.8% in the 2nd quarter. NewEdge Advisors LLC now owns 276,080 shares of the company’s stock worth $14,977,000 after purchasing an additional 2,204 shares during the last quarter.

Principal U.S. Mega-Cap ETF Stock Down 0.1 %

Shares of USMC stock opened at $61.73 on Friday. The company has a market cap of $2.72 billion, a P/E ratio of 26.66 and a beta of 0.92. The business has a 50 day moving average of $59.44 and a two-hundred day moving average of $56.55. Principal U.S. Mega-Cap ETF has a 52 week low of $46.14 and a 52 week high of $61.98.

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.