Riverbend Wealth Management LLC Purchases New Position in Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Riverbend Wealth Management LLC bought a new position in shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,601 shares of the company’s stock, valued at approximately $426,000.

Several other institutional investors and hedge funds have also modified their holdings of SCHD. Raymond James Financial Inc. bought a new stake in shares of Schwab US Dividend Equity ETF in the fourth quarter valued at about $592,939,000. Sumitomo Life Insurance Co. boosted its position in Schwab US Dividend Equity ETF by 200.0% during the 4th quarter. Sumitomo Life Insurance Co. now owns 26,820,000 shares of the company’s stock worth $732,722,000 after acquiring an additional 17,880,000 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of Schwab US Dividend Equity ETF by 195.8% during the 4th quarter. Wealthspire Advisors LLC now owns 15,144,112 shares of the company’s stock worth $413,737,000 after acquiring an additional 10,024,156 shares in the last quarter. Orgel Wealth Management LLC boosted its holdings in Schwab US Dividend Equity ETF by 159.8% during the fourth quarter. Orgel Wealth Management LLC now owns 11,062,243 shares of the company’s stock worth $302,220,000 after purchasing an additional 6,804,908 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its position in Schwab US Dividend Equity ETF by 210.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,755,912 shares of the company’s stock valued at $157,252,000 after purchasing an additional 3,900,238 shares in the last quarter.

Schwab US Dividend Equity ETF Price Performance

Shares of NYSEARCA:SCHD opened at $28.38 on Tuesday. The company’s 50-day moving average price is $27.87 and its two-hundred day moving average price is $28.14. Schwab US Dividend Equity ETF has a one year low of $25.18 and a one year high of $29.72. The stock has a market capitalization of $70.38 billion, a PE ratio of 17.56 and a beta of 0.86.

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.