Summit Financial LLC Buys 299,460 Shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Summit Financial LLC raised its stake in shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 2,466.1% in the 4th quarter, Holdings Channel reports. The firm owned 311,603 shares of the company’s stock after acquiring an additional 299,460 shares during the period. Summit Financial LLC’s holdings in Schwab US Dividend Equity ETF were worth $8,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SCHD. LPL Financial LLC raised its stake in Schwab US Dividend Equity ETF by 214.9% during the fourth quarter. LPL Financial LLC now owns 36,314,776 shares of the company’s stock valued at $992,120,000 after purchasing an additional 24,783,386 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Schwab US Dividend Equity ETF in the 4th quarter valued at about $592,939,000. Sumitomo Life Insurance Co. grew its position in Schwab US Dividend Equity ETF by 200.0% in the fourth 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 in the last quarter. Avantax Advisory Services Inc. increased its stake in Schwab US Dividend Equity ETF by 205.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 26,003,626 shares of the company’s stock worth $710,419,000 after acquiring an additional 17,501,170 shares during the last quarter. Finally, Wealthspire Advisors LLC raised its position in Schwab US Dividend Equity ETF by 195.8% during the fourth quarter. Wealthspire Advisors LLC now owns 15,144,112 shares of the company’s stock valued at $413,737,000 after purchasing an additional 10,024,156 shares during the period.

Schwab US Dividend Equity ETF Price Performance

NYSEARCA:SCHD opened at $27.58 on Monday. The firm has a market capitalization of $69.50 billion, a price-to-earnings ratio of 17.12 and a beta of 0.86. The business has a 50 day simple moving average of $27.97 and a 200-day simple moving average of $28.14. Schwab US Dividend Equity ETF has a 1 year low of $25.18 and a 1 year high of $29.72.

Schwab US Dividend Equity ETF Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, March 26th will be paid a dividend of $0.2488 per share. The ex-dividend date of this dividend is Wednesday, March 26th.

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.