Schwab 1000 Index ETF (NYSEARCA:SCHK) Hits New 52-Week High – Should You Buy?

Shares of Schwab 1000 Index ETF (NYSEARCA:SCHK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.24 and last traded at $33.2250, with a volume of 247065 shares traded. The stock had previously closed at $33.13.

Schwab 1000 Index ETF Stock Performance

The stock’s fifty day simple moving average is $32.56 and its two-hundred day simple moving average is $31.40. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 25.42 and a beta of 1.02.

Institutional Investors Weigh In On Schwab 1000 Index ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCHK. Allworth Financial LP raised its holdings in shares of Schwab 1000 Index ETF by 59.3% in the 3rd quarter. Allworth Financial LP now owns 22,314 shares of the company’s stock worth $717,000 after purchasing an additional 8,310 shares during the period. Prosperity Consulting Group LLC purchased a new position in Schwab 1000 Index ETF in the third quarter valued at approximately $226,000. Qube Research & Technologies Ltd raised its stake in shares of Schwab 1000 Index ETF by 33.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 5,764 shares of the company’s stock valued at $185,000 after acquiring an additional 1,459 shares during the period. Mariner LLC raised its position in Schwab 1000 Index ETF by 2.2% in the third quarter. Mariner LLC now owns 314,680 shares of the company’s stock valued at $10,108,000 after purchasing an additional 6,866 shares during the period. Finally, Lido Advisors LLC acquired a new position in Schwab 1000 Index ETF during the 3rd quarter worth approximately $3,360,000.

About Schwab 1000 Index ETF

The Schwab 1000 Index ETF (SCHK) is an exchange-traded fund that is based on the S&P Schwab 1000 index, a proprietary market-cap-weighted index that includes 1,000 of the largest US-listed stocks. SCHK was launched on Oct 11, 2017 and is managed by Charles Schwab.