Covington Investment Advisors Inc. Cuts Holdings in Schwab US Dividend Equity ETF (NYSEARCA:SCHD)

Covington Investment Advisors Inc. cut its stake in shares of Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,478 shares of the company’s stock after selling 2,795 shares during the quarter. Schwab US Dividend Equity ETF makes up about 41.8% of Covington Investment Advisors Inc.’s portfolio, making the stock its largest position. Covington Investment Advisors Inc.’s holdings in Schwab US Dividend Equity ETF were worth $477,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of Schwab US Dividend Equity ETF by 214.9% in the 4th quarter. LPL Financial LLC now owns 36,314,776 shares of the company’s stock worth $992,120,000 after buying an additional 24,783,386 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Schwab US Dividend Equity ETF during the 4th quarter valued at $592,939,000. Sumitomo Life Insurance Co. boosted its position in shares of Schwab US Dividend Equity ETF by 200.0% in the fourth quarter. Sumitomo Life Insurance Co. now owns 26,820,000 shares of the company’s stock valued at $732,722,000 after acquiring an additional 17,880,000 shares during the period. Avantax Advisory Services Inc. boosted its stake in Schwab US Dividend Equity ETF by 205.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 26,003,626 shares of the company’s stock valued at $710,419,000 after buying an additional 17,501,170 shares during the period. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Schwab US Dividend Equity ETF by 195.8% during the 4th quarter. Wealthspire Advisors LLC now owns 15,144,112 shares of the company’s stock worth $413,737,000 after acquiring an additional 10,024,156 shares during the last quarter.

Schwab US Dividend Equity ETF Stock Down 0.2 %

Shares of NYSEARCA:SCHD opened at $27.75 on Friday. The company’s fifty day moving average is $27.97 and its 200 day moving average is $28.13. Schwab US Dividend Equity ETF has a 52 week low of $25.18 and a 52 week high of $29.72. The stock has a market cap of $69.93 billion, a PE ratio of 17.12 and a beta of 0.86.

Schwab US Dividend Equity ETF Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, March 26th will be issued a $0.2488 dividend. The ex-dividend date is Wednesday, March 26th.

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.