Municipal Employees Retirement System of Michigan purchased a new stake in shares of Schwab U.S. TIPS ETF (NYSEARCA:SCHP – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 15,565,679 shares of the company’s stock, valued at approximately $402,061,000. Schwab U.S. TIPS ETF makes up 5.5% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its 5th biggest position. Municipal Employees Retirement System of Michigan owned 7.37% of Schwab U.S. TIPS ETF at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in Schwab U.S. TIPS ETF by 86.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 88,511 shares of the company’s stock valued at $2,286,000 after acquiring an additional 41,069 shares in the last quarter. Phillips Financial Management LLC raised its position in Schwab U.S. TIPS ETF by 181.6% during the fourth quarter. Phillips Financial Management LLC now owns 87,330 shares of the company’s stock valued at $2,256,000 after acquiring an additional 56,317 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Schwab U.S. TIPS ETF by 60.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 211,670 shares of the company’s stock valued at $5,467,000 after acquiring an additional 79,793 shares in the last quarter. Farther Finance Advisors LLC raised its position in Schwab U.S. TIPS ETF by 116.9% during the fourth quarter. Farther Finance Advisors LLC now owns 16,614 shares of the company’s stock valued at $429,000 after acquiring an additional 8,954 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Schwab U.S. TIPS ETF by 69.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 22,160 shares of the company’s stock valued at $572,000 after acquiring an additional 9,063 shares in the last quarter.
Schwab U.S. TIPS ETF Trading Up 0.1 %
Shares of SCHP stock opened at $26.54 on Friday. The stock has a 50 day moving average of $26.20 and a 200 day moving average of $26.32. Schwab U.S. TIPS ETF has a twelve month low of $25.46 and a twelve month high of $26.96.
About Schwab U.S. TIPS ETF
The Schwab U.S. TIPS ETF (SCHP) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value weighted index of US Treasury inflation-protected securities with at least one year remaining in maturity. SCHP was launched on Aug 5, 2010 and is managed by Charles Schwab.
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