Summit Asset Management LLC Buys 832,632 Shares of Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM)

Summit Asset Management LLC lifted its stake in shares of Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) by 209.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,229,842 shares of the company’s stock after purchasing an additional 832,632 shares during the quarter. Schwab U.S. Mid-Cap ETF comprises 6.0% of Summit Asset Management LLC’s portfolio, making the stock its 3rd largest position. Summit Asset Management LLC’s holdings in Schwab U.S. Mid-Cap ETF were worth $34,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Alpha LLC increased its position in Schwab U.S. Mid-Cap ETF by 195.3% in the 4th quarter. Advisory Alpha LLC now owns 5,718,828 shares of the company’s stock valued at $158,471,000 after acquiring an additional 3,782,365 shares during the period. Legacy Wealth Management Inc increased its position in Schwab U.S. Mid-Cap ETF by 203.9% in the 4th quarter. Legacy Wealth Management Inc now owns 4,180,010 shares of the company’s stock valued at $115,828,000 after acquiring an additional 2,804,735 shares during the period. Fragasso Financial Advisors Inc increased its position in Schwab U.S. Mid-Cap ETF by 201.2% in the 4th quarter. Fragasso Financial Advisors Inc now owns 3,345,175 shares of the company’s stock valued at $92,695,000 after acquiring an additional 2,234,519 shares during the period. JMG Financial Group Ltd. increased its position in Schwab U.S. Mid-Cap ETF by 196.9% in the 4th quarter. JMG Financial Group Ltd. now owns 2,881,771 shares of the company’s stock valued at $79,854,000 after acquiring an additional 1,910,992 shares during the period. Finally, Summit Financial Strategies Inc. increased its position in Schwab U.S. Mid-Cap ETF by 194.9% in the 4th quarter. Summit Financial Strategies Inc. now owns 1,939,998 shares of the company’s stock valued at $53,757,000 after acquiring an additional 1,282,163 shares during the period.

Schwab U.S. Mid-Cap ETF Price Performance

SCHM opened at $27.98 on Friday. Schwab U.S. Mid-Cap ETF has a 12 month low of $24.64 and a 12 month high of $30.28. The stock has a market cap of $4.01 billion, a P/E ratio of 16.47 and a beta of 1.09. The stock’s 50 day moving average price is $28.46 and its 200 day moving average price is $28.04.

Schwab U.S. Mid-Cap ETF Profile

The Schwab U.S. Mid-Cap ETF (SCHM) is an exchange-traded fund that mostly invests in mid cap equity. The fund tracks a market cap-weighted index of mid-cap stocks in the Dow Jones US Total Stock Market Index. SCHM was launched on Jan 13, 2011 and is managed by Charles Schwab.