Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 47.2% in August

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 20,413 shares, a decrease of 47.2% from the August 15th total of 38,646 shares. Based on an average daily trading volume, of 113,973 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Principal U.S. Mega-Cap ETF Price Performance

NASDAQ USMC traded up $0.64 during mid-day trading on Thursday, reaching $75.85. 1,755 shares of the stock were exchanged, compared to its average volume of 110,073. The stock has a market cap of $5.06 billion, a P/E ratio of 27.59 and a beta of 0.95. Principal U.S. Mega-Cap ETF has a one year low of $62.28 and a one year high of $77.20. The stock has a 50 day simple moving average of $75.42 and a 200-day simple moving average of $71.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC bought a new position in Principal U.S. Mega-Cap ETF in the 2nd quarter valued at about $6,818,000. Principal Securities Inc. boosted its position in Principal U.S. Mega-Cap ETF by 2.1% in the fourth quarter. Principal Securities Inc. now owns 4,470,607 shares of the company’s stock worth $306,013,000 after purchasing an additional 91,106 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Principal U.S. Mega-Cap ETF by 35.4% in the 1st quarter. Royal Bank of Canada now owns 117,374 shares of the company’s stock worth $7,549,000 after buying an additional 30,690 shares during the last quarter. Virtu Financial LLC boosted its stake in Principal U.S. Mega-Cap ETF by 509.5% in the fourth quarter. Virtu Financial LLC now owns 22,824 shares of the company’s stock valued at $1,562,000 after acquiring an additional 19,079 shares during the last quarter. Finally, Symphony Financial Services Inc. lifted its stake in Principal U.S. Mega-Cap ETF by 6.1% in the first quarter. Symphony Financial Services Inc. now owns 242,619 shares of the company’s stock valued at $15,603,000 after purchasing an additional 13,925 shares during the last quarter.

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.