Schwab 1000 Index ETF (NYSEARCA:SCHK) Sets New 1-Year High – Still a Buy?

Shares of Schwab 1000 Index ETF (NYSEARCA:SCHK) reached a new 52-week high on Tuesday . The stock traded as high as $35.61 and last traded at $35.55, with a volume of 333544 shares trading hands. The stock had previously closed at $35.47.

Schwab 1000 Index ETF Stock Up 0.5%

The firm has a 50 day simple moving average of $33.01 and a 200-day simple moving average of $32.95. The company has a market cap of $5.44 billion, a PE ratio of 25.42 and a beta of 1.01.

Hedge Funds Weigh In On Schwab 1000 Index ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Archer Investment Corp purchased a new position in Schwab 1000 Index ETF in the first quarter valued at about $26,000. Lodestone Wealth Management LLC purchased a new position in Schwab 1000 Index ETF in the fourth quarter valued at about $28,000. Atlas Capital Advisors Inc. purchased a new position in Schwab 1000 Index ETF in the fourth quarter valued at about $31,000. Dorato Capital Management purchased a new position in Schwab 1000 Index ETF in the fourth quarter valued at about $40,000. Finally, Garner Asset Management Corp purchased a new position in Schwab 1000 Index ETF in the fourth quarter valued at about $44,000.

About Schwab 1000 Index ETF

The Schwab 1000 Index ETF (SCHK) is an exchange-traded fund that is based on the S&P Schwab 1000 index, a proprietary market-cap-weighted index that includes 1,000 of the largest US-listed stocks. SCHK was launched on Oct 11, 2017 and is managed by Charles Schwab.