Schwab US Dividend Equity ETF (NYSEARCA:SCHD) Sets New 12-Month High – Here’s Why

Schwab US Dividend Equity ETF (NYSEARCA:SCHD) reached a new 52-week high during trading on Thursday. The company traded as high as $35.32 and last traded at $35.3350, with a volume of 22,315,906 shares changing hands. The stock had previously closed at $34.66.

Schwab US Dividend Equity ETF Price Performance

The stock’s 50 day simple moving average is $34.07 and its 200-day simple moving average is $32.90. The company has a market capitalization of $118.28 billion, a PE ratio of 14.57 and a beta of 0.68.

Hedge Funds Weigh In On Schwab US Dividend Equity ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in shares of Schwab US Dividend Equity ETF by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,667,059 shares of the company’s stock worth $560,222,000 after buying an additional 354,983 shares during the period. Cassaday & Co Wealth Management LLC raised its position in shares of Schwab US Dividend Equity ETF by 3.5% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 9,569,026 shares of the company’s stock worth $293,578,000 after purchasing an additional 324,778 shares during the last quarter. Royal Bank of Canada raised its holdings in Schwab US Dividend Equity ETF by 8.3% in the first quarter. Royal Bank of Canada now owns 8,655,941 shares of the company’s stock worth $265,563,000 after buying an additional 660,876 shares during the last quarter. Keystone Financial Planning Inc. grew its holdings in shares of Schwab US Dividend Equity ETF by 0.5% during the third quarter. Keystone Financial Planning Inc. now owns 6,279,518 shares of the company’s stock valued at $204,273,000 after buying an additional 29,169 shares during the last quarter. Finally, Keybank National Association OH boosted its stake in Schwab US Dividend Equity ETF by 7.9% during the 1st quarter. Keybank National Association OH now owns 3,836,791 shares of the company’s stock valued at $117,713,000 after purchasing an additional 280,129 shares during 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.