Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Up 606.5% in September

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 32,500 shares, an increase of 606.5% from the August 31st total of 4,600 shares. Based on an average daily trading volume, of 70,200 shares, the short-interest ratio is currently 0.5 days.

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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 purchasing an additional 525 shares in the last quarter. Laidlaw Wealth Management LLC raised its holdings 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 last quarter. Capital Investment Advisory Services LLC bought a new position in Principal U.S. Mega-Cap ETF in the 1st quarter valued at approximately $50,000. NewEdge Advisors LLC raised 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 buying an additional 2,204 shares during the last quarter. Finally, Blair William & Co. IL bought a new position in Principal U.S. Mega-Cap ETF during the second quarter valued at approximately $201,000.

Principal U.S. Mega-Cap ETF Trading Up 0.1 %

Shares of NASDAQ:USMC traded up $0.08 during mid-day trading on Friday, reaching $56.78. The company had a trading volume of 45,473 shares, compared to its average volume of 78,030. Principal U.S. Mega-Cap ETF has a one year low of $40.73 and a one year high of $56.98. The company’s 50-day moving average price is $54.71 and its 200-day moving average price is $52.95. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92.

Principal U.S. Mega-Cap ETF Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, July 1st were paid a dividend of $0.1596 per share. This is a positive change from Principal U.S. Mega-Cap ETF’s previous dividend of $0.15. The ex-dividend date of this dividend was Monday, July 1st.

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.