Dagco Inc. has acquired a new stake in the Schwab Fundamental U.S. Large Company ETF (NYSEARCA:FNDX), purchasing 1,408 shares valued at approximately $33,000. This investment marks a strategic move for the institutional investor in the first quarter of the year, as reported by Holdings Channel.
The acquisition by Dagco Inc. comes amid a notable shift in institutional investments surrounding the ETF. Other firms have recently adjusted their holdings significantly, reflecting growing interest in this exchange-traded fund. For instance, Captrust Financial Advisors increased its position by an impressive 221.9% in the previous quarter. After adding 10,300,064 shares, Captrust now holds 14,941,376 shares valued at approximately $353.8 million.
In a similar vein, Boulay Financial Advisors LLC entered a new position in the ETF worth about $140.1 million. Meanwhile, Steele Capital Management Inc. raised its holdings by 1.3% in the first quarter, now owning 6,054,706 shares valued at $142.9 million after acquiring an additional 75,461 shares. Additionally, Ameriprise Financial Inc. increased its holdings by 152.3%, with a total of 5,885,606 shares now worth $139.4 million.
The Schwab Fundamental U.S. Large Company ETF has seen active trading, with its shares recently opening at $25.40. Over the past year, the ETF has fluctuated between a low of $20.41 and a high of $25.42. The fund boasts a market capitalization of $19.3 billion and a price-to-earnings ratio of 17.86, with a beta of 1.00. Current moving averages stand at $24.61 for the 50-day period and $23.90 for the 200-day period.
Understanding the Schwab Fundamental U.S. Large Company ETF
The Schwab Fundamental U.S. Large Company ETF (FNDX) is designed to track the Russell RAFI Large Company US Index. This ETF employs a fundamentally weighted approach, selecting and weighting components based on key financial metrics such as sales, cash flow, and dividends or buybacks. Since its inception on August 15, 2013, it has become a prominent choice for investors seeking exposure to large-cap U.S. equities.
The surge in institutional investment in FNDX underscores a broader trend among investors seeking stable returns through diversified holdings. With its robust management by Charles Schwab, the ETF continues to attract significant interest, reflecting confidence in its investment strategy and performance metrics.
For those interested in tracking further developments or exploring additional investment opportunities in the Schwab Fundamental U.S. Large Company ETF, resources such as Holdings Channel provide up-to-date information on institutional holdings and market movements.
