Schwab US Dividend Equity ETF (NYSEARCA:SCHD) Reaches New 52-Week High – Here’s What Happened

Schwab US Dividend Equity ETF (NYSEARCA:SCHD) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.19 and last traded at $29.1550, with a volume of 17146976 shares changing hands. The stock had previously closed at $28.70.

Schwab US Dividend Equity ETF Trading Up 1.6%

The firm’s 50-day moving average price is $27.71 and its 200 day moving average price is $27.36. The company has a market cap of $76.44 billion, a price-to-earnings ratio of 14.57 and a beta of 0.77.

Hedge Funds Weigh In On Schwab US Dividend Equity ETF

Several institutional investors have recently made changes to their positions in the stock. Rakuten Investment Management Inc. bought a new stake in Schwab US Dividend Equity ETF in the 3rd quarter valued at about $1,127,144,000. Sumitomo Life Insurance Co. acquired a new stake in Schwab US Dividend Equity ETF in the third quarter valued at approximately $847,665,000. RMG Wealth Management LLC bought a new position in shares of Schwab US Dividend Equity ETF in the 2nd quarter worth $132,621,000. Cibc World Market Inc. grew its position in Schwab US Dividend Equity ETF by 243.5% in the 3rd quarter. Cibc World Market Inc. now owns 5,328,615 shares of the company’s stock valued at $145,471,000 after purchasing an additional 3,777,339 shares during the period. Finally, Osaic Holdings Inc. increased its stake in Schwab US Dividend Equity ETF by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 11,264,610 shares of the company’s stock valued at $298,684,000 after purchasing an additional 1,217,005 shares in the last quarter.

Schwab US Dividend Equity ETF Company Profile

The Schwab U.S. Dividend Equity ETF (SCHD) is an exchange-traded fund that is based on the Dow Jones U.S. Dividend 100 index, a market-cap-weighted index of 100 dividend-paying US equities. SCHD was launched on Oct 20, 2011 and is managed by Schwab.