Summit Financial Strategies Inc. Cuts Stock Position in Schwab US Broad Market ETF $SCHB

Summit Financial Strategies Inc. cut its holdings in Schwab US Broad Market ETF (NYSEARCA:SCHB) by 16.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,672,115 shares of the company’s stock after selling 510,921 shares during the quarter. Schwab US Broad Market ETF comprises approximately 5.3% of Summit Financial Strategies Inc.’s holdings, making the stock its 6th largest position. Summit Financial Strategies Inc. owned about 0.18% of Schwab US Broad Market ETF worth $67,070,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SCHB. Farrow Financial Inc. raised its holdings in shares of Schwab US Broad Market ETF by 27.7% during the 1st quarter. Farrow Financial Inc. now owns 106,388 shares of the company’s stock valued at $2,670,000 after purchasing an additional 23,103 shares in the last quarter. KLCM Advisors Inc. boosted its holdings in Schwab US Broad Market ETF by 4.6% in the first quarter. KLCM Advisors Inc. now owns 51,631 shares of the company’s stock worth $1,296,000 after purchasing an additional 2,272 shares in the last quarter. Robinson Smith Wealth Advisors LLC increased its position in Schwab US Broad Market ETF by 0.6% during the first quarter. Robinson Smith Wealth Advisors LLC now owns 1,080,467 shares of the company’s stock worth $27,120,000 after buying an additional 6,855 shares during the last quarter. Team Hewins LLC increased its position in Schwab US Broad Market ETF by 79.1% during the first quarter. Team Hewins LLC now owns 19,280 shares of the company’s stock worth $484,000 after buying an additional 8,516 shares during the last quarter. Finally, Beam Wealth Advisors Inc. bought a new position in Schwab US Broad Market ETF during the first quarter valued at about $262,000.

Schwab US Broad Market ETF Stock Up 0.3%

Shares of NYSEARCA:SCHB traded up $0.09 on Friday, reaching $29.18. The company had a trading volume of 5,450,458 shares, compared to its average volume of 9,913,581. Schwab US Broad Market ETF has a twelve month low of $23.83 and a twelve month high of $29.35. The stock has a 50-day moving average price of $28.70 and a 200 day moving average price of $27.18. The stock has a market capitalization of $43.58 billion, a P/E ratio of 25.08 and a beta of 1.02.

About Schwab US Broad Market ETF

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.