Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Sees Significant Increase in Short Interest

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 41,541 shares, an increase of 103.5% from the August 31st total of 20,413 shares. Based on an average trading volume of 57,933 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank acquired a new stake in Principal U.S. Mega-Cap ETF in the 4th quarter valued at $25,000. Parallel Advisors LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the 1st quarter valued at about $26,000. Abound Financial LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the 4th quarter valued at about $29,000. Compass Financial Management LLC bought a new position in shares of Principal U.S. Mega-Cap ETF in the 2nd quarter valued at about $83,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Principal U.S. Mega-Cap ETF in the first quarter valued at about $80,000.

Principal U.S. Mega-Cap ETF Price Performance

Shares of USMC traded down $0.18 during mid-day trading on Tuesday, hitting $76.72. 91,579 shares of the company’s stock were exchanged, compared to its average volume of 107,911. Principal U.S. Mega-Cap ETF has a 52 week low of $62.28 and a 52 week high of $77.69. The company has a market cap of $5.11 billion, a PE ratio of 27.59 and a beta of 0.95. The company has a 50-day simple moving average of $75.85 and a 200 day simple moving average of $72.50.

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.