Summit Financial Wealth Advisors LLC Purchases 12,209 Shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Summit Financial Wealth Advisors LLC boosted its position in shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 12.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 109,127 shares of the company’s stock after buying an additional 12,209 shares during the quarter. Schwab US Dividend Equity ETF makes up about 1.8% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 19th largest position. Summit Financial Wealth Advisors LLC’s holdings in Schwab US Dividend Equity ETF were worth $7,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC acquired a new position in shares of Schwab US Dividend Equity ETF in the 1st quarter valued at approximately $26,000. O Shaughnessy Asset Management LLC raised its stake in Schwab US Dividend Equity ETF by 115.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 353 shares of the company’s stock valued at $26,000 after acquiring an additional 189 shares during the period. Sage Mountain Advisors LLC increased its position in Schwab US Dividend Equity ETF by 75.9% during the 1st quarter. Sage Mountain Advisors LLC now owns 475 shares of the company’s stock worth $35,000 after buying an additional 205 shares during the period. Founders Capital Management bought a new position in shares of Schwab US Dividend Equity ETF in the second quarter worth $44,000. Finally, Riggs Asset Managment Co. Inc. bought a new position in shares of Schwab US Dividend Equity ETF in the first quarter worth $56,000.

Schwab US Dividend Equity ETF Price Performance

NYSEARCA:SCHD traded down $0.29 during trading hours on Tuesday, hitting $73.33. The company’s stock had a trading volume of 460,930 shares, compared to its average volume of 3,121,611. The stock has a fifty day simple moving average of $74.14 and a 200-day simple moving average of $72.66. The company has a market capitalization of $48.27 billion, a P/E ratio of 14.38 and a beta of 0.88. Schwab US Dividend Equity ETF has a twelve month low of $65.96 and a twelve month high of $79.49.

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.