Schwab US Broad Market ETF (NYSEARCA:SCHB) Reaches New 52-Week High – Still a Buy?

Schwab US Broad Market ETF (NYSEARCA:SCHB)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.62 and last traded at $66.59, with a volume of 163651 shares traded. The stock had previously closed at $66.37.

Schwab US Broad Market ETF Stock Up 0.5 %

The stock has a market capitalization of $30.66 billion, a price-to-earnings ratio of 25.24 and a beta of 1.02. The company’s 50-day moving average is $64.37 and its 200-day moving average is $62.55.

Schwab US Broad Market ETF’s stock is set to split on the morning of Friday, October 11th. The 3-1 split was announced on Wednesday, September 25th. The newly minted shares will be issued to shareholders after the closing bell on Thursday, October 10th.

Institutional Investors Weigh In On Schwab US Broad Market ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC grew its holdings in shares of Schwab US Broad Market ETF by 6,212.4% in the second quarter. Strategic Financial Concepts LLC now owns 4,696,336 shares of the company’s stock valued at $291,000 after purchasing an additional 4,621,937 shares in the last quarter. Rebalance LLC lifted its position in shares of Schwab US Broad Market ETF by 1.6% during the 2nd quarter. Rebalance LLC now owns 3,656,627 shares of the company’s stock worth $229,892,000 after buying an additional 55,848 shares during the last quarter. Strid Group LLC lifted its position in shares of Schwab US Broad Market ETF by 7.6% during the 2nd quarter. Strid Group LLC now owns 2,752,877 shares of the company’s stock worth $173,073,000 after buying an additional 195,347 shares during the last quarter. Evergreen Advisors LLC lifted its position in shares of Schwab US Broad Market ETF by 1.0% during the 2nd quarter. Evergreen Advisors LLC now owns 2,182,804 shares of the company’s stock worth $137,233,000 after buying an additional 21,357 shares during the last quarter. Finally, Hanson & Doremus Investment Management lifted its position in shares of Schwab US Broad Market ETF by 0.9% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,937,609 shares of the company’s stock worth $121,817,000 after buying an additional 16,407 shares during the last quarter.

About Schwab US Broad Market ETF

Schwab U.S. Broad Market ETF (the Fund) seeks to track the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index (the Index). The Index is a float-adjusted market capitalization weighted index that reflects the shares of securities actually available to investors in the marketplace. The Fund’s index includes the 2,500 publicly traded United States companies for, which pricing information is available.