Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) Sees Significant Decline in Short Interest

Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 77,815 shares, a drop of 45.9% from the July 15th total of 143,787 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 184,492 shares, the days-to-cover ratio is currently 0.4 days.

Schwab Fundamental U.S. Broad Market ETF Stock Performance

Schwab Fundamental U.S. Broad Market ETF stock traded down $0.17 during trading hours on Monday, reaching $31.76. 198,164 shares of the company’s stock traded hands, compared to its average volume of 159,809. Schwab Fundamental U.S. Broad Market ETF has a fifty-two week low of $24.63 and a fifty-two week high of $31.97. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.81 and a beta of 0.88. The firm’s 50 day moving average is $30.82 and its 200-day moving average is $29.33.

Institutional Investors Weigh In On Schwab Fundamental U.S. Broad Market ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. bought a new position in Schwab Fundamental U.S. Broad Market ETF in the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised its position in shares of Schwab Fundamental U.S. Broad Market ETF by 3,140.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,787 shares of the company’s stock valued at $64,000 after acquiring an additional 2,701 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Schwab Fundamental U.S. Broad Market ETF by 23.5% during the 3rd quarter. Larson Financial Group LLC now owns 3,088 shares of the company’s stock valued at $79,000 after acquiring an additional 588 shares during the last quarter. Elevated Capital Advisors LLC acquired a new position in shares of Schwab Fundamental U.S. Broad Market ETF in the 4th quarter valued at $86,000. Finally, Composition Wealth LLC acquired a new position in shares of Schwab Fundamental U.S. Broad Market ETF in the 4th quarter valued at $227,000.

About Schwab Fundamental U.S. Broad Market ETF

The Schwab Fundamental U.S. Broad Market Index ETF (FNDB) is an exchange-traded fund that is based on the Russell RAFI US index. The fund tracks a US equity index, selected and weighted based on three fundamental factors (sales, cash flow and dividends\u002Fbuybacks). FNDB was launched on Aug 8, 2013 and is managed by Charles Schwab.