Corient Private Wealth LLC significantly reduced its investment in the Schwab Emerging Markets Equity ETF (NYSEARCA: SCHE) during the second quarter of 2023, as revealed in a recent filing with the Securities and Exchange Commission. The firm cut its stake by an impressive 87.8%, selling 835,501 shares and retaining just 116,562 shares. As of the latest filing, Corient’s holdings in the ETF are valued at approximately $3.51 million.
A number of other hedge funds have also adjusted their positions in the Schwab Emerging Markets Equity ETF recently. For instance, Pin Oak Investment Advisors Inc. acquired a new stake valued at about $32,000 during the same quarter. Similarly, Hoey Investments Inc. purchased shares worth approximately $33,000. Notably, Keener Financial Planning LLC increased its position by an extraordinary 5,945.5%, now holding 1,330 shares after adding 1,308 shares to its portfolio, which is valued at around $40,000.
Additionally, Headlands Technologies LLC entered the ETF market with a new investment worth $43,000, while Game Plan Financial Advisors LLC raised its stake by 106.9%, now owning 1,655 shares valued at $46,000.
Current ETF Performance
As of Monday, the Schwab Emerging Markets Equity ETF opened at $32.41. The fund commands a market capitalization of $11.05 billion, with a price-to-earnings ratio of 15.58 and a beta of 0.54. Its fifty-day simple moving average stands at $33.40, while the 200-day simple moving average is $32.04. Over the past year, the ETF has experienced a low of $24.11 and a high of $34.54.
The Schwab Emerging Markets Equity ETF aims to track the total return of the FTSE All-Emerging Index, which comprises large and mid-cap companies in emerging market nations. The index encompasses the largest 90% of eligible companies, reflecting a diverse range of sectors within these economies. The fund utilizes various derivatives, including options, futures, and swaps, and may lend its portfolio securities to brokers and financial institutions to enhance returns.
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