Pinnacle Associates Ltd. Has $40.29 Million Stake in Schwab US Dividend Equity ETF $SCHD

Pinnacle Associates Ltd. lowered its stake in Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,475,986 shares of the company’s stock after selling 51,757 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Schwab US Dividend Equity ETF were worth $40,294,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Rakuten Investment Management Inc. bought a new position in Schwab US Dividend Equity ETF during the third quarter worth $1,127,144,000. Sumitomo Life Insurance Co. bought a new stake in Schwab US Dividend Equity ETF in the third quarter valued at $847,665,000. Cibc World Market Inc. raised its holdings in shares of Schwab US Dividend Equity ETF by 243.5% during the third quarter. Cibc World Market Inc. now owns 5,328,615 shares of the company’s stock valued at $145,471,000 after purchasing an additional 3,777,339 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Schwab US Dividend Equity ETF by 12.1% during the second quarter. Osaic Holdings Inc. now owns 11,264,610 shares of the company’s stock valued at $298,684,000 after purchasing an additional 1,217,005 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Schwab US Dividend Equity ETF by 18.0% during the 3rd quarter. Cerity Partners LLC now owns 6,599,938 shares of the company’s stock worth $180,178,000 after purchasing an additional 1,005,469 shares in the last quarter.

Schwab US Dividend Equity ETF Price Performance

Shares of SCHD opened at $31.13 on Friday. The stock has a 50-day moving average of $29.98 and a 200-day moving average of $28.24. The company has a market cap of $81.88 billion, a PE ratio of 14.57 and a beta of 0.77. Schwab US Dividend Equity ETF has a one year low of $23.87 and a one year high of $31.95.

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.