Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Update

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 30,874 shares, a decrease of 39.1% from the July 15th total of 50,708 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 89,696 shares, the days-to-cover ratio is currently 0.3 days.

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

Several hedge funds have recently made changes to their positions in USMC. Stifel Financial Corp lifted its holdings in Principal U.S. Mega-Cap ETF by 0.8% in the fourth quarter. Stifel Financial Corp now owns 23,418 shares of the company’s stock worth $1,603,000 after purchasing an additional 184 shares during the period. Advisory Services Network LLC grew its position in Principal U.S. Mega-Cap ETF by 3.1% in the 4th quarter. Advisory Services Network LLC now owns 7,117 shares of the company’s stock valued at $487,000 after buying an additional 212 shares in the last quarter. Equitable Holdings Inc. increased its stake in Principal U.S. Mega-Cap ETF by 5.5% during the 4th quarter. Equitable Holdings Inc. now owns 4,476 shares of the company’s stock valued at $306,000 after buying an additional 234 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Principal U.S. Mega-Cap ETF by 6.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,920 shares of the company’s stock valued at $337,000 after buying an additional 306 shares during the period. Finally, Huntington National Bank bought a new stake in shares of Principal U.S. Mega-Cap ETF during the 4th quarter worth about $25,000.

Principal U.S. Mega-Cap ETF Stock Down 0.3%

Shares of NASDAQ USMC opened at $76.24 on Wednesday. The firm’s 50-day moving average price is $74.30 and its two-hundred day moving average price is $70.61. Principal U.S. Mega-Cap ETF has a 52-week low of $62.28 and a 52-week high of $76.96. The stock has a market capitalization of $3.68 billion, a P/E ratio of 27.59 and a beta of 0.95.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.139 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, 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.