Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) Hits New 52-Week High – Here’s Why

Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $33.05 and last traded at $32.75, with a volume of 1111774 shares changing hands. The stock had previously closed at $32.77.

Schwab U.S. Mid-Cap ETF Stock Performance

The company has a market capitalization of $13.41 billion, a PE ratio of 18.83 and a beta of 1.08. The firm’s 50-day simple moving average is $31.26 and its 200 day simple moving average is $30.07.

Institutional Investors Weigh In On Schwab U.S. Mid-Cap ETF

A number of institutional investors and hedge funds have recently modified their holdings of SCHM. Creative Planning raised its holdings in Schwab U.S. Mid-Cap ETF by 2.4% during the second quarter. Creative Planning now owns 29,603,590 shares of the company’s stock worth $830,381,000 after purchasing an additional 684,597 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Schwab U.S. Mid-Cap ETF by 4.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,932,629 shares of the company’s stock valued at $328,744,000 after buying an additional 459,489 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Schwab U.S. Mid-Cap ETF by 1.9% in the third quarter. HighTower Advisors LLC now owns 10,782,575 shares of the company’s stock valued at $319,596,000 after buying an additional 198,793 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Schwab U.S. Mid-Cap ETF by 5.9% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 10,021,294 shares of the company’s stock worth $297,031,000 after buying an additional 555,701 shares during the last quarter. Finally, Advisory Alpha LLC raised its stake in shares of Schwab U.S. Mid-Cap ETF by 6.8% during the 3rd quarter. Advisory Alpha LLC now owns 8,942,309 shares of the company’s stock worth $267,436,000 after buying an additional 568,609 shares during the last quarter.

About Schwab U.S. Mid-Cap ETF

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.