Schwab US Dividend Equity ETF (NYSEARCA:SCHD) Hits New 12-Month High – What’s Next?

Schwab US Dividend Equity ETF (NYSEARCA:SCHD) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.36 and last traded at $29.34, with a volume of 5465707 shares traded. The stock had previously closed at $28.98.

Schwab US Dividend Equity ETF Trading Up 1.2 %

The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 15.04 and a beta of 0.74. The company’s 50-day moving average is $28.40 and its 200-day moving average is $27.25.

Hedge Funds Weigh In On Schwab US Dividend Equity ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its stake in shares of Schwab US Dividend Equity ETF by 3.1% during the third quarter. LPL Financial LLC now owns 11,531,390 shares of the company’s stock valued at $974,748,000 after acquiring an additional 350,872 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of Schwab US Dividend Equity ETF by 41.5% in the second quarter. Sumitomo Life Insurance Co. now owns 8,940,000 shares of the company’s stock valued at $677,625,000 after purchasing an additional 2,620,000 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Schwab US Dividend Equity ETF by 2.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,851,505 shares of the company’s stock valued at $455,013,000 after acquiring an additional 139,020 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Schwab US Dividend Equity ETF by 7.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,281,892 shares of the company’s stock worth $361,948,000 after buying an additional 297,674 shares in the last quarter. Finally, Orgel Wealth Management LLC boosted its stake in shares of Schwab US Dividend Equity ETF by 1.7% in the 3rd quarter. Orgel Wealth Management LLC now owns 4,257,335 shares of the company’s stock valued at $359,873,000 after purchasing an additional 70,852 shares in the last quarter.

About Schwab US Dividend Equity ETF

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.