Morris Financial Concepts Inc. has decreased its holdings in the Schwab US Large-Cap ETF (NYSEARCA:SCHX) by 3.7% during the second quarter of 2023. According to the latest 13F filing with the Securities and Exchange Commission, the firm now owns 1,327,241 shares after selling 50,558 shares during this period. The Schwab US Large-Cap ETF represents approximately 12.9% of Morris Financial Concepts Inc.’s investment portfolio, making it the firm’s second largest holding.
By the end of the most recent quarter, Morris Financial Concepts Inc. held approximately 0.06% of the Schwab US Large-Cap ETF, valued at $32,438,000. This adjustment comes amid a broader trend of investment activity, with several large investors also modifying their positions in the ETF recently.
Investment Trends in Schwab US Large-Cap ETF
US Bancorp DE increased its stake in the Schwab US Large-Cap ETF by 5.2% during the first quarter. Following this acquisition, US Bancorp DE now owns 217,201,393 shares valued at approximately $4,795,807,000, after purchasing an additional 10,782,297 shares.
Similarly, HBK Sorce Advisory LLC raised its position in the ETF by 2.8%, now owning 33,030,817 shares worth $729,320,000 after adding 890,971 shares in the last quarter. Sage Financial Group Inc. also increased its holdings by 1.9%, bringing its total to 25,345,106 shares valued at $559,620,000.
In a notable move, Northwestern Mutual Wealth Management Co. lifted its stake by 17.8%, now holding 24,479,012 shares valued at $540,497,000, having acquired an additional 3,701,133 shares. Wealth Enhancement Advisory Services LLC also raised its holdings by 17.7% in the second quarter, owning 19,566,506 shares worth $484,662,000 after purchasing an additional 2,942,434 shares.
Current Performance of Schwab US Large-Cap ETF
As of Wednesday, shares of the Schwab US Large-Cap ETF opened at $26.23. The ETF’s fifty-day simple moving average is $25.87, while the two-hundred day simple moving average stands at $24.11. Over the past year, the stock has experienced a low of $19.00 and a high of $26.68. The ETF currently holds a market capitalization of $60.78 billion, with a price-to-earnings ratio of 25.66 and a beta of 1.01.
The Schwab U.S. Large-Cap ETF aims to track the total return of the Dow Jones U.S. Large-Cap Total Stock Market Index, which includes the large-cap portion of the Dow Jones U.S. Total Stock Market Index. The index comprises components ranked 1-750 by full market capitalization, providing investors access to a diverse array of large-cap stocks.
Investors interested in receiving updates and ratings for the Schwab US Large-Cap ETF can sign up for daily summaries through MarketBeat.com’s free email newsletter.
