Bank of Montreal Can Acquires New Stake in Schwab Fundamental Emerging Markets Large Company Index ETF
Nov 21, 2023
Bank of Montreal Can Acquires 10,711 Shares in Schwab Fundamental Emerging Markets Large Company Index ETF
In a notable investment move, the Bank of Montreal Can has established a new position in the Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE), purchasing 10,711 shares. This purchase, made in the second quarter, added a value of around $297,000 to the bank's investment portfolio according to the latest Form 13F filing with the Securities & Exchange Commission.
Investment Patterns Among Institutions
Alongside the Bank of Montreal Can, several other institutional investors and hedge funds have adjusted their holdings in FNDE. Financial Freedom LLC initiated a position in FNDE in the fourth quarter with an investment valued at about $42,000. During the same period, Howe & Rusling Inc. invested $46,000 in the ETF. Moreover, Tower Research Capital LLC TRC significantly raised its stake by 5,360.5% in the third quarter, owning 2,075 shares after buying an additional 2,037.
Continuing the trend, Allworth Financial LP increased their shares by 44.0% in the second quarter, resulting in a total of 3,170 owned shares worth approximately $85,000. Spire Wealth Management saw a notable surge of 445.8% in their FNDE stake in the first quarter, now holding 3,253 shares also valued at $85,000.
FNDE's Market Performance
The ETF, trading as NYSEARCA FNDE, opened at $27.18 on a recent Tuesday. It has a market capitalization of $5.04 billion, a price-to-earnings ratio of 7.25, and a beta of 0.75. It hit a 12-month low of $24.38 and a high of $28.37, with a 50-day moving average of $26.16 and a 200-day average of $26.61.
Understanding Schwab Fundamental Emerging Markets Large Company Index ETF
The Schwab Fundamental Emerging Markets Large Company Index ETF predominantly invests in large-cap equities within emerging markets, following an index of such stocks. The selection criteria and weighting of the fund's holdings are based on three key financial metrics: sales, cash flow, and dividends/buybacks.
BankOfMontreal, FNDE, Investment