Summit Financial Strategies Inc. Decreases Stake in Schwab US Broad Market ETF $SCHB

Summit Financial Strategies Inc. reduced its position in shares of Schwab US Broad Market ETF (NYSEARCA:SCHB) by 12.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,326,085 shares of the company’s stock after selling 346,030 shares during the period. Schwab US Broad Market ETF makes up 4.7% of Summit Financial Strategies Inc.’s portfolio, making the stock its 8th biggest holding. Summit Financial Strategies Inc.’s holdings in Schwab US Broad Market ETF were worth $67,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its position in Schwab US Broad Market ETF by 1,209.6% during the fourth quarter. Brighton Jones LLC now owns 228,625 shares of the company’s stock valued at $5,190,000 after purchasing an additional 211,168 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Schwab US Broad Market ETF by 197.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 21,510 shares of the company’s stock worth $488,000 after acquiring an additional 14,279 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Schwab US Broad Market ETF by 50.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,549,572 shares of the company’s stock valued at $33,362,000 after purchasing an additional 518,984 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Schwab US Broad Market ETF in the 2nd quarter worth $218,000. Finally, Russell Investments Group Ltd. boosted its holdings in Schwab US Broad Market ETF by 18.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 9,924 shares of the company’s stock valued at $236,000 after acquiring an additional 1,552 shares during the period.

Schwab US Broad Market ETF Stock Down 0.5%

Shares of NYSEARCA SCHB opened at $29.57 on Wednesday. The firm’s fifty day moving average is $29.31 and its 200 day moving average is $28.01. Schwab US Broad Market ETF has a 52 week low of $24.28 and a 52 week high of $30.15. The company has a market cap of $44.36 billion, a price-to-earnings ratio of 25.08 and a beta of 1.02.

Schwab US Broad Market ETF Profile

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. The types of derivatives used by the Fund are options, futures, options on futures and swaps.