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

Principal U.S. Mega-Cap ETF (NASDAQ:USMC) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 29,600 shares, a growth of 111.4% from the February 29th total of 14,000 shares. Based on an average trading volume of 110,300 shares, the days-to-cover ratio is currently 0.3 days.

Principal U.S. Mega-Cap ETF Price Performance

Shares of USMC opened at $51.37 on Thursday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.66 and a beta of 0.92. The company has a 50-day moving average of $50.00 and a 200 day moving average of $46.48. Principal U.S. Mega-Cap ETF has a 1-year low of $38.41 and a 1-year high of $51.79.

Institutional Trading of Principal U.S. Mega-Cap ETF

Several institutional investors and hedge funds have recently made changes to their positions in USMC. UBS Group AG raised its position in shares of Principal U.S. Mega-Cap ETF by 5.6% in the 1st quarter. UBS Group AG now owns 11,732 shares of the company’s stock worth $500,000 after acquiring an additional 622 shares in the last quarter. Bank of America Corp DE lifted its position in Principal U.S. Mega-Cap ETF by 1.6% during the first quarter. Bank of America Corp DE now owns 52,853 shares of the company’s stock valued at $2,255,000 after acquiring an additional 819 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Principal U.S. Mega-Cap ETF by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 103,470 shares of the company’s stock valued at $3,731,000 after acquiring an additional 825 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Principal U.S. Mega-Cap ETF by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,361 shares of the company’s stock worth $911,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Principal U.S. Mega-Cap ETF by 15.2% during the 2nd quarter. Osaic Holdings Inc. now owns 7,988 shares of the company’s stock valued at $348,000 after purchasing an additional 1,056 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.