Principal U.S. Small-Cap Multi-Factor ETF (NASDAQ:PSC) Sees Large Decline in Short Interest
by Renee Jackson · The Cerbat GemPrincipal U.S. Small-Cap Multi-Factor ETF (NASDAQ:PSC – Get Free Report) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 19,922 shares, a drop of 57.8% from the April 30th total of 47,210 shares. Based on an average daily trading volume, of 96,765 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.
Principal U.S. Small-Cap Multi-Factor ETF Trading Up 0.2%
NASDAQ:PSC traded up $0.16 during mid-day trading on Friday, reaching $66.06. The company’s stock had a trading volume of 114,903 shares, compared to its average volume of 166,330. The stock has a market cap of $2.08 billion, a P/E ratio of 17.29 and a beta of 1.01. The firm’s fifty day moving average price is $61.63 and its two-hundred day moving average price is $59.90. Principal U.S. Small-Cap Multi-Factor ETF has a 12-month low of $50.44 and a 12-month high of $66.10.
Principal U.S. Small-Cap Multi-Factor ETF Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, April 6th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.1078 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.43 annualized dividend and a yield of 0.7%. This is an increase from Principal U.S. Small-Cap Multi-Factor ETF’s previous quarterly dividend of $0.08.
Hedge Funds Weigh In On Principal U.S. Small-Cap Multi-Factor ETF
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in Principal U.S. Small-Cap Multi-Factor ETF during the 1st quarter valued at about $179,000. Redwood Financial Network Corp bought a new position in Principal U.S. Small-Cap Multi-Factor ETF during the 4th quarter valued at about $218,000. Goldman Sachs Group Inc. bought a new position in Principal U.S. Small-Cap Multi-Factor ETF during the 4th quarter valued at about $231,000. truNorth Financial Services Inc. bought a new position in Principal U.S. Small-Cap Multi-Factor ETF during the 4th quarter valued at about $236,000. Finally, Round Rock Advisors LLC bought a new position in Principal U.S. Small-Cap Multi-Factor ETF during the 4th quarter valued at about $274,000.
About Principal U.S. Small-Cap Multi-Factor ETF
The Principal U.S. Small-Cap Multi-Factor ETF (PSC) is an exchange-traded fund that is based on the Russell 2000 index. The fund is actively managed to invest in small-cap US companies. The fund uses a proprietary, quantitative model to construct the portfolio. PSC was launched on Sep 21, 2016 and is managed by Principal.