Principal U.S. Mega-Cap ETF (NASDAQ:USMC) Short Interest Down 20.8% in April

Posted by ABMN Staff on Apr 29th, 2024

Principal U.S. Mega-Cap ETF (NASDAQ:USMC – Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 17,500 shares, a drop of 20.8% from the March 31st total of 22,100 shares. Based on an average daily trading volume, of 111,600 shares, the short-interest ratio is currently 0.2 days.

Principal U.S. Mega-Cap ETF Trading Up 1.1 %

NASDAQ USMC opened at $49.93 on Monday. The company has a fifty day simple moving average of $50.48 and a two-hundred day simple moving average of $47.52. The stock has a market cap of $2.22 billion, a P/E ratio of 26.69 and a beta of 0.92. Principal U.S. Mega-Cap ETF has a 12-month low of $39.38 and a 12-month high of $51.79.

Principal U.S. Mega-Cap ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, April 2nd were issued a $0.1548 dividend. The ex-dividend date of this dividend was Monday, April 1st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in USMC. Principal Financial Group Inc. raised its holdings in shares of Principal U.S. Mega-Cap ETF by 35.7% during the fourth quarter. Principal Financial Group Inc. now owns 37,566,551 shares of the company’s stock worth $1,757,156,000 after purchasing an additional 9,881,752 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth $78,408,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Principal U.S. Mega-Cap ETF during the third quarter worth $15,430,000. O Brien Wealth Partners LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the first quarter worth $18,054,000. Finally, Legacy CG LLC purchased a new position in shares of Principal U.S. Mega-Cap ETF during the fourth quarter worth $15,406,000.

Principal U.S. Mega-Cap ETF Company Profile

(Get Free Report)

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.