Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) Reaches New 12-Month High – Here’s Why

Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $29.61 and last traded at $29.61, with a volume of 98653 shares. The stock had previously closed at $29.30.

Schwab U.S. Mid-Cap ETF Stock Up 1.3 %

The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 16.47 and a beta of 1.09. The stock’s 50-day moving average price is $28.01 and its 200 day moving average price is $26.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. bought a new position in Schwab U.S. Mid-Cap ETF during the second quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Schwab U.S. Mid-Cap ETF by 75.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 343 shares of the company’s stock valued at $26,000 after purchasing an additional 148 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Schwab U.S. Mid-Cap ETF in the 2nd quarter valued at $30,000. Cordant Inc. bought a new position in shares of Schwab U.S. Mid-Cap ETF in the 3rd quarter valued at approximately $30,000. Finally, Institutional & Family Asset Management LLC increased its position in Schwab U.S. Mid-Cap ETF by 500.0% in the 2nd quarter. Institutional & Family Asset Management LLC now owns 432 shares of the company’s stock worth $34,000 after buying an additional 360 shares during the period.

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.