Corient Private Wealth LLC significantly reduced its investment in the Schwab Emerging Markets Equity ETF (NYSEARCA: SCHE) during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The firm decreased its holdings by 87.8%, resulting in ownership of 116,562 shares after selling 835,501 shares during the period. As of the latest filing, Corient’s stake in the ETF is valued at approximately $3.51 million.
Several other hedge funds also adjusted their positions in the Schwab Emerging Markets Equity ETF. For instance, Pin Oak Investment Advisors Inc. acquired a new stake in the ETF valued at around $32,000, while Hoey Investments Inc. entered the market with a new investment worth approximately $33,000 in the same quarter. Notably, Keener Financial Planning LLC made a substantial increase, raising its stake by an impressive 5,945.5%, acquiring 1,330 shares valued at $40,000 after purchasing an additional 1,308 shares.
Other notable transactions include Headlands Technologies LLC, which secured a new position in the ETF valued at $43,000, and Game Plan Financial Advisors LLC, which raised its stake by 106.9% in the first quarter, now holding 1,655 shares worth $46,000.
Market Performance and Overview
As of Monday, shares of the Schwab Emerging Markets Equity ETF opened at $32.41. The ETF has a market capitalization of $11.05 billion and a price-to-earnings ratio of 15.58, accompanied by a beta of 0.54. Its fifty-day simple moving average stands at $33.40, while the 200-day 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 replicate the total return of the FTSE All-Emerging Index, which includes large and mid-cap companies in emerging market countries. The index encompasses roughly the top 90% of the eligible universe, making it a significant player in the market. The ETF employs various derivatives, including options, futures, and swaps, and may lend its portfolio securities to financial institutions to enhance returns.
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