Short Interest in Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Decreases By 46.2%

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 9,800 shares, a decline of 46.2% from the October 31st total of 18,200 shares. Based on an average daily volume of 65,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blair William & Co. IL acquired a new position in shares of Principal U.S. Mega-Cap ETF during the second quarter valued at about $201,000. Stifel Financial Corp bought a new stake in Principal U.S. Mega-Cap ETF during the 3rd quarter valued at $237,000. Retireful LLC purchased a new stake in shares of Principal U.S. Mega-Cap ETF during the third quarter worth $468,000. Laidlaw Wealth Management LLC lifted its position in shares of Principal U.S. Mega-Cap ETF by 9.1% during the second quarter. Laidlaw Wealth Management LLC now owns 9,733 shares of the company’s stock worth $528,000 after acquiring an additional 809 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in shares of Principal U.S. Mega-Cap ETF in the third quarter worth $783,000.

Principal U.S. Mega-Cap ETF Stock Performance

Principal U.S. Mega-Cap ETF stock opened at $59.82 on Thursday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 26.66 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 52-week low of $44.82 and a 52-week high of $59.98. The stock’s 50 day moving average price is $57.76 and its two-hundred day moving average price is $55.26.

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.