Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 48.5% in February

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 22,400 shares, a drop of 48.5% from the January 31st total of 43,500 shares. Based on an average trading volume of 128,600 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in USMC. Independent Advisor Alliance acquired a new position in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at $230,000. Stifel Financial Corp acquired a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter valued at about $237,000. Cornerstone Wealth Management LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF in the fourth quarter worth about $274,000. Blair William & Co. IL raised its stake in shares of Principal U.S. Mega-Cap ETF by 26.7% in the fourth quarter. Blair William & Co. IL now owns 4,683 shares of the company’s stock worth $281,000 after purchasing an additional 986 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth about $324,000.

Principal U.S. Mega-Cap ETF Stock Performance

Shares of USMC stock opened at $60.86 on Friday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 27.61 and a beta of 0.92. The stock’s 50-day simple moving average is $61.25 and its 200-day simple moving average is $58.86. Principal U.S. Mega-Cap ETF has a fifty-two week low of $48.51 and a fifty-two week high of $63.13.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.00 per share. The ex-dividend date of this dividend was Tuesday, December 31st.

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.