Moran Wealth Management Acquires New Shares in Schwab US Dividend Equity ETF

Moran Wealth Management LLC has recently expanded its investment portfolio by purchasing a new position in the Schwab US Dividend Equity ETF (NYSEARCA:SCHD). The acquisition amounted to 63,753 shares with an approximate value of $4.63 million. The transaction occurred during the second quarter, signaling a growing interest in dividend-paying stocks among institutional investors.

Institutional Investors' Moves

This investment action by Moran Wealth Management LLC is part of a broader trend where various institutional players are adjusting their stakes in SCHD. Fortune 45 LLC, for instance, increased its holdings by 3.6% and now owns 82,847 shares valued at about $6.54 million. Similarly, United Bank increased its shareholding by 7.6%, with a total value of $3.74 million. MAS Advisors LLC elevated its stake by 32.9%, now possessing shares worth over $3 million. The Bank of New York Mellon Corp saw a hike of 10% in their investments, while Citigroup Inc. had a substantial increment of 53.4% during the first quarter.

SCHD's Market Performance

The Schwab US Dividend Equity ETF stock opened at $71.47 on the noted trading day. The fund's performance oscillated between a 12-month low of $66.67 and a high of $79.49. With a market capitalization surpassing $47 billion, SCHD's price-to-earnings ratio stands at 14.38, and it maintains a moderate beta of 0.88. The moving averages over 50 and 200 days clock in at $70.45 and $71.91, respectively.

About Schwab US Dividend Equity ETF

The Schwab U.S. Dividend Equity ETF is a well-known exchange-traded fund based on the Dow Jones U.S. Dividend 100 index, which focuses on 100 dividend-paying U.S. securities. Managed by Schwab, SCHD has been in the market since October 20, 2011.

Investment, Acquisition, Stake