Pinnacle Associates Ltd. Increases Stock Position in Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Pinnacle Associates Ltd. boosted its stake in shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 1.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 651,092 shares of the company’s stock after acquiring an additional 8,202 shares during the period. Schwab US Dividend Equity ETF comprises about 0.8% of Pinnacle Associates Ltd.’s holdings, making the stock its 27th biggest holding. Pinnacle Associates Ltd. owned 0.09% of Schwab US Dividend Equity ETF worth $50,629,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Schwab US Dividend Equity ETF during the fourth quarter worth about $1,176,000. Mather Group LLC. acquired a new stake in Schwab US Dividend Equity ETF in the fourth quarter valued at approximately $239,000. Mission Wealth Management LP raised its holdings in Schwab US Dividend Equity ETF by 123.7% in the fourth quarter. Mission Wealth Management LP now owns 7,596 shares of the company’s stock valued at $578,000 after acquiring an additional 4,200 shares in the last quarter. Brighton Jones LLC raised its holdings in Schwab US Dividend Equity ETF by 7.3% in the fourth quarter. Brighton Jones LLC now owns 29,423 shares of the company’s stock valued at $2,240,000 after acquiring an additional 1,998 shares in the last quarter. Finally, Northcape Wealth Management LLC acquired a new stake in Schwab US Dividend Equity ETF during the fourth quarter worth approximately $274,000.

Schwab US Dividend Equity ETF Stock Performance

SCHD stock traded up $0.67 during midday trading on Friday, reaching $84.53. 2,472,968 shares of the company were exchanged, compared to its average volume of 3,212,576. The stock’s 50-day simple moving average is $80.47 and its 200 day simple moving average is $78.98. The company has a market cap of $59.30 billion, a price-to-earnings ratio of 15.04 and a beta of 0.74. Schwab US Dividend Equity ETF has a 1-year low of $66.67 and a 1-year high of $84.57.

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.