Procyon Advisors LLC Invests $8.70 Million in Schwab U.S. TIPS ETF $SCHP

Procyon Advisors LLC bought a new position in shares of Schwab U.S. TIPS ETF (NYSEARCA:SCHP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 322,703 shares of the company’s stock, valued at approximately $8,697,000. Procyon Advisors LLC owned 0.06% of Schwab U.S. TIPS ETF at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SCHP. Brighton Jones LLC increased its position in Schwab U.S. TIPS ETF by 211.4% during the 4th quarter. Brighton Jones LLC now owns 20,936 shares of the company’s stock worth $541,000 after buying an additional 14,212 shares during the period. AQR Capital Management LLC boosted its position in shares of Schwab U.S. TIPS ETF by 180.7% in the first quarter. AQR Capital Management LLC now owns 76,197 shares of the company’s stock valued at $2,049,000 after acquiring an additional 49,056 shares during the period. Apella Capital LLC acquired a new position in shares of Schwab U.S. TIPS ETF in the second quarter valued at about $200,000. Catalyst Private Wealth LLC increased its position in Schwab U.S. TIPS ETF by 2.9% during the second quarter. Catalyst Private Wealth LLC now owns 72,111 shares of the company’s stock worth $1,924,000 after acquiring an additional 2,022 shares during the period. Finally, Focus Financial Network Inc. increased its position in Schwab U.S. TIPS ETF by 4.6% during the second quarter. Focus Financial Network Inc. now owns 301,111 shares of the company’s stock worth $8,034,000 after acquiring an additional 13,119 shares during the period.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein raised shares of Schwab U.S. TIPS ETF to a “hold” rating in a report on Friday, December 5th.

Schwab U.S. TIPS ETF Price Performance

SCHP opened at $26.60 on Thursday. Schwab U.S. TIPS ETF has a fifty-two week low of $25.83 and a fifty-two week high of $27.19. The company’s 50 day moving average price is $26.69 and its two-hundred day moving average price is $26.77.

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.