Arkadios Wealth Advisors has significantly increased its investment in the Schwab US Dividend Equity ETF (NYSEARCA:SCHD) by 49.4% during the third quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now owns 320,635 shares after acquiring an additional 105,992 shares during the quarter, bringing the total value of its holdings to approximately $8,753,000.
The move by Arkadios Wealth Advisors is part of a broader trend, as several other large investors have also adjusted their positions in SCHD. For instance, Financial Management Professionals Inc. increased its holdings by an impressive 241.9% in the second quarter, now owning 1,282 shares valued at $34,000 after purchasing an additional 907 shares. Similarly, PrairieView Partners LLC boosted its position by 57.3%, acquiring an additional 467 shares to reach a total of 1,282 shares worth $33,000.
Other notable investors include Vaughan Nelson Investment Management L.P., which established a new position valued at approximately $39,000 in SCHD during the second quarter, and Independence Bank of Kentucky, which purchased a new stake worth about $41,000 in the third quarter. Additionally, True Wealth Design LLC raised its holdings by 42.9% during the same period, now owning 1,500 shares valued at $41,000.
Market Performance of SCHD
As of Tuesday, shares of SCHD opened at $28.90. The ETF has a market capitalization of $75.72 billion, a price-to-earnings (P/E) ratio of 14.57, and a beta of 0.77. Its 50-day moving average stands at $27.68, while the two-hundred day moving average is $27.35. Over the past year, SCHD has experienced a low of $23.87 and reached a high of $29.11.
About Schwab US Dividend Equity ETF
The Schwab US Dividend Equity ETF (SCHD) is designed to track the performance of the Dow Jones U.S. Dividend 100 Index, which consists of 100 dividend-paying U.S. equities. Launched on October 20, 2011, SCHD is managed by Schwab and aims to provide investors with exposure to high-quality companies that have a history of sustainable dividends.
This increase in holdings by Arkadios Wealth Advisors and other investors indicates a growing confidence in the potential of dividend-paying stocks, reflecting a broader trend in investment strategies focused on stability and income generation.
