Summit Financial LLC Has $7.67 Million Stock Position in Schwab U.S. TIPS ETF (NYSEARCA:SCHP)

Summit Financial LLC lifted its stake in Schwab U.S. TIPS ETF (NYSEARCA:SCHP) by 185.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,062 shares of the company’s stock after buying an additional 192,885 shares during the period. Summit Financial LLC owned about 0.14% of Schwab U.S. TIPS ETF worth $7,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Salem Investment Counselors Inc. lifted its holdings in shares of Schwab U.S. TIPS ETF by 91.8% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,057 shares of the company’s stock valued at $27,000 after acquiring an additional 506 shares during the period. Transcendent Capital Group LLC boosted its position in Schwab U.S. TIPS ETF by 112.1% in the fourth quarter. Transcendent Capital Group LLC now owns 1,048 shares of the company’s stock valued at $27,000 after buying an additional 554 shares in the last quarter. Community Bank N.A. grew its stake in Schwab U.S. TIPS ETF by 100.0% during the fourth quarter. Community Bank N.A. now owns 1,052 shares of the company’s stock worth $27,000 after buying an additional 526 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in shares of Schwab U.S. TIPS ETF by 100.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 1,128 shares of the company’s stock worth $29,000 after buying an additional 564 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Schwab U.S. TIPS ETF by 24,260.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,218 shares of the company’s stock valued at $31,000 after acquiring an additional 1,213 shares during the last quarter.

Schwab U.S. TIPS ETF Stock Up 0.6 %

SCHP stock opened at $26.78 on Monday. The business has a fifty day moving average price of $26.38 and a 200 day moving average price of $26.32. Schwab U.S. TIPS ETF has a fifty-two week low of $25.46 and a fifty-two week high of $26.96.

Schwab U.S. TIPS ETF Company Profile

The Schwab U.S. TIPS ETF (SCHP) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value weighted index of US Treasury inflation-protected securities with at least one year remaining in maturity. SCHP was launched on Aug 5, 2010 and is managed by Charles Schwab.