Schwab 1000 Index ETF (NYSEARCA:SCHK) Reaches New 1-Year High – Should You Buy?

Schwab 1000 Index ETF (NYSEARCA:SCHK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $33.56 and last traded at $33.5350, with a volume of 229286 shares changing hands. The stock had previously closed at $33.39.

Schwab 1000 Index ETF Stock Up 0.4%

The stock has a market cap of $5.00 billion, a P/E ratio of 25.42 and a beta of 1.02. The company’s 50 day moving average price is $32.89 and its two-hundred day moving average price is $32.03.

Hedge Funds Weigh In On Schwab 1000 Index ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Schwab 1000 Index ETF by 1.3% during the third quarter. Creative Planning now owns 3,133,039 shares of the company’s stock valued at $100,633,000 after buying an additional 40,837 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Schwab 1000 Index ETF by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 2,526,887 shares of the company’s stock valued at $82,882,000 after acquiring an additional 97,075 shares during the last quarter. Waddell & Associates LLC boosted its stake in Schwab 1000 Index ETF by 3.2% in the third quarter. Waddell & Associates LLC now owns 2,050,350 shares of the company’s stock valued at $65,857,000 after acquiring an additional 63,322 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in Schwab 1000 Index ETF by 16.1% in the second quarter. Main Street Financial Solutions LLC now owns 394,821 shares of the company’s stock valued at $11,774,000 after acquiring an additional 54,677 shares in the last quarter. Finally, Lighthouse Wealth Management Inc. grew its holdings in Schwab 1000 Index ETF by 4.5% in the fourth quarter. Lighthouse Wealth Management Inc. now owns 375,340 shares of the company’s stock worth $12,311,000 after purchasing an additional 16,262 shares during the last quarter.

About Schwab 1000 Index ETF

The Schwab 1000 Index ETF (SCHK) is an exchange-traded fund that is based on the S&P Schwab 1000 index, a proprietary market-cap-weighted index that includes 1,000 of the largest US-listed stocks. SCHK was launched on Oct 11, 2017 and is managed by Charles Schwab.