Moran Wealth Management Acquires Over 60K Shares in Schwab US Dividend Equity ETF

Moran Wealth Management LLC has marked its entry into the Schwab US Dividend Equity ETF (NYSEARCA: SCHD) with the purchase of 63,753 shares during the second quarter. The acquisition of the company's stock holds an approximate value of $4.63 million and signals the firm's confidence in the ETF, which is known for its focus on dividend-paying US equities.

Growth in Institutional Investments

Joining Moran Wealth Management, other institutional investors have also made adjustments to their SCHD holdings. Fortune 45 LLC increased its shares by 3.6% in the first quarter, reaching a total of 82,847 shares worth about $6.54 million. United Bank saw a 7.6% growth in its stake, owning 47,346 shares valued at $3.74 million. MAS Advisors LLC expanded its position by 32.9%, holding 38,659 shares worth $3.09 million. Bank of New York Mellon Corp and Citigroup Inc. also increased their stakes by 10.0% and 53.4%, respectively, in the first quarter.

Schwab US Dividend Equity ETF Performance

The ETF's stock opened at $71.47 on a recent Tuesday, showcasing a steady performance. With a 12-month range between $66.67 and $79.49, SCHD maintains a 50 day moving average of $70.45 and a 200-day moving average of $71.91. The ETF's market capitalization stands strong at $47.04 billion, with a price-to-earnings ratio of 14.38 and a beta of 0.88.

About Schwab US Dividend Equity ETF

SCHD operates based on the Dow Jones US Dividend 100 index, which includes 100 dividend-paying US equities with a market-cap-weighted distribution. Launched on October 20, 2011, SCHD is managed by Schwab and represents a popular choice for investors seeking dividend income.

Schwab, Dividend, Investment