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 large increase in short interest in March. As of March 15th, there was short interest totalling 29,600 shares, an increase of 111.4% from the February 29th total of 14,000 shares. Based on an average daily volume of 110,300 shares, the short-interest ratio is presently 0.3 days.

Principal U.S. Mega-Cap ETF Price Performance

Shares of NASDAQ USMC opened at $51.36 on Friday. The business has a 50-day moving average of $50.00 and a 200-day moving average of $46.48. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 1-year low of $38.83 and a 1-year high of $51.79.

Hedge Funds Weigh In On Principal U.S. Mega-Cap ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC boosted its holdings in Principal U.S. Mega-Cap ETF by 16.6% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 17,612 shares of the company’s stock worth $754,000 after purchasing an additional 2,510 shares during the period. Jackson Wealth Management LLC increased its position in shares of Principal U.S. Mega-Cap ETF by 72.7% during the 3rd quarter. Jackson Wealth Management LLC now owns 82,305 shares of the company’s stock valued at $3,526,000 after purchasing an additional 34,648 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Principal U.S. Mega-Cap ETF in the third quarter worth about $15,430,000. LPL Financial LLC grew its position in Principal U.S. Mega-Cap ETF by 12.6% in the third quarter. LPL Financial LLC now owns 310,942 shares of the company’s stock worth $13,321,000 after buying an additional 34,866 shares during the last quarter. Finally, Laidlaw Wealth Management LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter worth $312,000.

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.