Modern Wealth Management LLC Acquires 333,375 Shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Modern Wealth Management LLC boosted its holdings in Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 1,324.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 358,544 shares of the company’s stock after acquiring an additional 333,375 shares during the quarter. Modern Wealth Management LLC’s holdings in Schwab US Dividend Equity ETF were worth $9,924,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC lifted its holdings in shares of Schwab US Dividend Equity ETF by 214.9% in 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. purchased a new position in Schwab US Dividend Equity ETF during the fourth quarter worth about $592,939,000. Sumitomo Life Insurance Co. grew its position in Schwab US Dividend Equity ETF by 200.0% in the 4th quarter. Sumitomo Life Insurance Co. now owns 26,820,000 shares of the company’s stock worth $732,722,000 after purchasing an additional 17,880,000 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Schwab US Dividend Equity ETF by 205.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 26,003,626 shares of the company’s stock worth $710,419,000 after purchasing an additional 17,501,170 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its stake in Schwab US Dividend Equity ETF by 195.8% in the 4th quarter. Wealthspire Advisors LLC now owns 15,144,112 shares of the company’s stock valued at $413,737,000 after buying an additional 10,024,156 shares during the last quarter.

Schwab US Dividend Equity ETF Stock Up 1.2 %

Shares of NYSEARCA SCHD opened at $28.09 on Tuesday. The company has a market capitalization of $69.66 billion, a PE ratio of 17.56 and a beta of 0.86. The stock’s 50 day moving average price is $27.97 and its 200-day moving average price is $28.13. Schwab US Dividend Equity ETF has a twelve month low of $25.18 and a twelve month high of $29.72.

Schwab US Dividend Equity ETF 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.