Schwab 1000 Index ETF (NYSEARCA:SCHK) Reaches New 1-Year High – Still a Buy?

Shares of Schwab 1000 Index ETF (NYSEARCA:SCHK) hit a new 52-week high on Tuesday . The company traded as high as $36.75 and last traded at $36.75, with a volume of 24310 shares changing hands. The stock had previously closed at $36.51.

Schwab 1000 Index ETF Price Performance

The company has a market cap of $5.89 billion, a price-to-earnings ratio of 25.42 and a beta of 1.01. The firm’s 50-day moving average price is $35.99 and its 200-day moving average price is $34.29.

Institutional Investors Weigh In On Schwab 1000 Index ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Schwab 1000 Index ETF by 20.6% during the 1st quarter. Royal Bank of Canada now owns 9,116 shares of the company’s stock valued at $245,000 after buying an additional 1,556 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Schwab 1000 Index ETF in the first quarter valued at approximately $232,000. Goldman Sachs Group Inc. acquired a new stake in Schwab 1000 Index ETF in the first quarter valued at approximately $629,000. Jane Street Group LLC acquired a new stake in Schwab 1000 Index ETF in the first quarter valued at approximately $2,157,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Schwab 1000 Index ETF by 50.8% during the second quarter. JPMorgan Chase & Co. now owns 17,110 shares of the company’s stock valued at $510,000 after purchasing an additional 5,766 shares during the period.

Schwab 1000 Index ETF Company Profile

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.