Schwab U.S. Large-Cap Value ETF (NYSEARCA:SCHV) Sets New 12-Month High – What’s Next?

On October 13th, 2024, the Schwab U.S. Large-Cap Value ETF (NYSEARCA:SCHV) reached a new 52-week high during trading hours. The shares rose to $26.87, before closing at $26.86, with a trading volume of 32,187 shares. The previous closing price was $26.70.

Performance of Schwab U.S. Large-Cap Value ETF

The ETF has shown positive movement, trading up by 1.1%. With a market capitalization of approximately $3.90 billion, the ETF has a price-to-earnings (PE) ratio of 17.88 and a lower-than-average beta of 0.77, indicating less volatility compared to the broader market. The fund's 50-day moving average price is set at $77.24, while the 200-day moving average price stands at $75.52, both indicators of its recent performance.

Involvement of Hedge Funds

Recently, hedge funds have been evaluating the Schwab U.S. Large-Cap Value ETF, with several firms making adjustments to their positions. For instance, Sei Investments Co. increased its stake in the ETF by 5.1% during the second quarter, now holding approximately 11,499,907 shares valued at around $851.9 million after acquiring an additional 553,600 shares. Similarly, Mather Group LLC raised their holdings by 6.0%, owning 11,127,954 shares worth about $845.5 million following a purchase of 628,056 shares.

Moreover, Envestnet Asset Management Inc. expanded its position by 10.5%, now holding 4,023,662 shares valued at approximately $298.1 million after buying an additional 382,380 shares in the same period. Additionally, Gemmer Asset Management LLC increased its holdings by 4.0% to hold 1,337,883 shares worth around $99.1 million after acquiring 51,758 shares. Lastly, LPL Financial LLC slightly raised its investment by 0.4%, owning 1,084,738 shares valued at approximately $80.4 million after acquiring 4,493 additional shares in the last quarter.

About Schwab U.S. Large-Cap Value ETF

The Schwab U.S. Large-Cap Value ETF aims to replicate the total returns of the Dow Jones U.S. Large-Cap Value Total Stock Market Index. This index encompasses the large-cap value segment of the broader market, enabling investors to benefit from exposure to this category.

Conclusion

The achievement of a new 12-month high by the Schwab U.S. Large-Cap Value ETF indicates a strong performance and growing interest among investors. With various hedge funds increasing their holdings, the ETF may continue to see traction in the market. Investors should monitor the ETF's future movements and the impact of market trends on its performance.

ETF, Stocks, Investing