The short interest in the Schwab U.S. Large-Cap Growth ETF (NYSEARCA:SCHG) saw a significant increase of 35.4% in December 2023. As of December 15, the total short interest reached 3,019,710 shares, a rise from 2,230,512 shares reported on November 30. This surge indicates that approximately 0.2% of the ETF’s shares are currently short sold.
The days-to-cover ratio, which measures how long it would take to cover all short positions based on average trading volume, currently stands at 0.3 days. This figure is derived from an average trading volume of 10,646,297 shares.
During trading on Tuesday, shares of SCHG fell slightly by $0.05, bringing the price to $32.88. In total, 8,323,749 shares were exchanged, which is below the ETF’s average volume of 10,935,483 shares. The ETF maintains a market capitalization of $53.43 billion and has a price-to-earnings (P/E) ratio of 34.24. The stock has shown a 52-week low of $21.37 and a 52-week high of $33.74.
Institutional Investor Activity
Recent reports indicate that several hedge funds and institutional investors have adjusted their holdings in the Schwab U.S. Large-Cap Growth ETF. Notably, J.W. Cole Advisors Inc. increased its position by 16.9% during the second quarter, now owning 367,653 shares valued at approximately $10.74 million after acquiring an additional 53,037 shares.
Similarly, Parkside Financial Bank & Trust raised its stake by 39.3%, bringing its total to 107,976 shares with a value of $3.15 million after purchasing 30,468 shares in the last quarter. Rovin Capital UT ADV also increased its holdings by 28.3%, now owning 654,286 shares worth $19.11 million following an additional purchase of 144,366 shares.
Other notable changes include HRC Wealth Management LLC, which raised its stake by 5.5%, resulting in ownership of 2,267,730 shares valued at $66.24 million after buying an additional 118,980 shares. AE Wealth Management LLC also lifted its position by 36.0%, now holding 335,988 shares valued at $9.81 million after acquiring an extra 89,025 shares.
The Schwab U.S. Large-Cap Growth ETF aims to track the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, which encompasses the large-cap growth segment of the total U.S. stock market. The index includes companies ranked 1-750 by market capitalization and classified as growth stocks.
As institutional interest continues to shift, market observers will be keen to see how these changes impact the ETF’s performance in the coming months.
