Summit Financial Strategies Inc. Reduces Holdings in Schwab U.S. Mid-Cap ETF $SCHM

Summit Financial Strategies Inc. lessened its holdings in shares of Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,131,341 shares of the company’s stock after selling 151,033 shares during the quarter. Schwab U.S. Mid-Cap ETF makes up 2.9% of Summit Financial Strategies Inc.’s portfolio, making the stock its 12th largest holding. Summit Financial Strategies Inc.’s holdings in Schwab U.S. Mid-Cap ETF were worth $41,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Schwab U.S. Mid-Cap ETF by 200.4% during the fourth quarter. Brighton Jones LLC now owns 23,293 shares of the company’s stock valued at $645,000 after purchasing an additional 15,538 shares during the period. Revolve Wealth Partners LLC increased its holdings in Schwab U.S. Mid-Cap ETF by 194.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 115,000 shares of the company’s stock worth $3,187,000 after acquiring an additional 75,941 shares in the last quarter. Royal Bank of Canada lifted its holdings in Schwab U.S. Mid-Cap ETF by 5.1% during the first quarter. Royal Bank of Canada now owns 154,252 shares of the company’s stock valued at $4,042,000 after purchasing an additional 7,443 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Schwab U.S. Mid-Cap ETF by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 485,015 shares of the company’s stock worth $12,707,000 after purchasing an additional 4,886 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Schwab U.S. Mid-Cap ETF by 37.4% in the second quarter. Russell Investments Group Ltd. now owns 3,359 shares of the company’s stock worth $94,000 after purchasing an additional 915 shares in the last quarter.

Schwab U.S. Mid-Cap ETF Price Performance

Shares of SCHM stock opened at $35.72 on Wednesday. Schwab U.S. Mid-Cap ETF has a one year low of $28.25 and a one year high of $36.92. The company’s fifty day moving average price is $35.65 and its 200-day moving average price is $34.29. The company has a market capitalization of $14.92 billion, a price-to-earnings ratio of 18.83 and a beta of 1.04.

Schwab U.S. Mid-Cap ETF Company Profile

The Schwab U.S. Mid-Cap ETF (SCHM) is an exchange-traded fund that mostly invests in mid cap equity. The fund tracks a market cap-weighted index of mid-cap stocks in the Dow Jones US Total Stock Market Index. SCHM was launched on Jan 13, 2011 and is managed by Charles Schwab.