Spinnaker Investment Group LLC Cuts Holdings in Schwab U.S. Mid-Cap ETF $SCHM

Spinnaker Investment Group LLC cut its stake in Schwab U.S. Mid-Cap ETF (NYSEARCA:SCHM) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,685 shares of the company’s stock after selling 52,731 shares during the quarter. Schwab U.S. Mid-Cap ETF comprises about 2.7% of Spinnaker Investment Group LLC’s holdings, making the stock its 10th biggest holding. Spinnaker Investment Group LLC owned about 0.10% of Schwab U.S. Mid-Cap ETF worth $11,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SCHM. Advisory Alpha LLC increased its position in shares of Schwab U.S. Mid-Cap ETF by 27.7% during the first quarter. Advisory Alpha LLC now owns 7,300,752 shares of the company’s stock valued at $191,211,000 after buying an additional 1,581,924 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Schwab U.S. Mid-Cap ETF during the 2nd quarter valued at approximately $40,844,000. Dynamic Advisor Solutions LLC purchased a new position in shares of Schwab U.S. Mid-Cap ETF during the 1st quarter worth approximately $24,197,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Schwab U.S. Mid-Cap ETF by 8.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,201,534 shares of the company’s stock worth $214,880,000 after acquiring an additional 616,733 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of Schwab U.S. Mid-Cap ETF by 28.6% in the 1st quarter. Jones Financial Companies Lllp now owns 1,658,202 shares of the company’s stock worth $43,409,000 after acquiring an additional 368,908 shares in the last quarter.

Schwab U.S. Mid-Cap ETF Stock Down 0.9%

SCHM opened at $29.29 on Friday. Schwab U.S. Mid-Cap ETF has a 52 week low of $22.41 and a 52 week high of $30.28. The stock has a market cap of $12.07 billion, a PE ratio of 18.83 and a beta of 1.13. The business has a 50 day moving average of $29.22 and a 200-day moving average of $27.53.

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.