Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) Shares Acquired by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. boosted its stake in Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) by 194.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,939,998 shares of the company’s stock after purchasing an additional 1,282,163 shares during the quarter. Schwab U.S. Mid-Cap ETF comprises 5.9% of Summit Financial Strategies Inc.’s investment portfolio, making the stock its 5th biggest position. Summit Financial Strategies Inc.’s holdings in Schwab U.S. Mid-Cap ETF were worth $53,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Schwab U.S. Mid-Cap ETF by 200.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 960 shares of the company’s stock valued at $27,000 after purchasing an additional 640 shares during the last quarter. Cordant Inc. purchased a new position in shares of Schwab U.S. Mid-Cap ETF during the 3rd quarter worth $30,000. Archer Investment Corp boosted its position in shares of Schwab U.S. Mid-Cap ETF by 1,965.0% during the 3rd quarter. Archer Investment Corp now owns 413 shares of the company’s stock valued at $34,000 after acquiring an additional 393 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Schwab U.S. Mid-Cap ETF by 200.0% in the fourth quarter. UMB Bank n.a. now owns 1,323 shares of the company’s stock valued at $37,000 after purchasing an additional 882 shares during the period. Finally, Massmutual Trust Co. FSB ADV purchased a new position in Schwab U.S. Mid-Cap ETF during the third quarter worth about $41,000.

Schwab U.S. Mid-Cap ETF Price Performance

Schwab U.S. Mid-Cap ETF stock opened at $29.20 on Monday. The firm has a 50 day simple moving average of $28.73 and a 200-day simple moving average of $27.75. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 16.47 and a beta of 1.09. Schwab U.S. Mid-Cap ETF has a 1-year low of $24.54 and a 1-year high of $30.28.

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.