Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) Sees Large Increase in Short Interest

Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 197,522 shares, an increase of 125.7% from the May 14th total of 87,501 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 125,922 shares, the days-to-cover ratio is presently 1.6 days.

Schwab Fundamental U.S. Broad Market ETF Price Performance

Shares of Schwab Fundamental U.S. Broad Market ETF stock opened at $30.60 on Friday. The company has a market cap of $1.31 billion, a PE ratio of 17.81 and a beta of 0.88. The firm has a fifty day moving average price of $29.31 and a two-hundred day moving average price of $28.04. Schwab Fundamental U.S. Broad Market ETF has a fifty-two week low of $23.34 and a fifty-two week high of $30.67.

Institutional Investors Weigh In On Schwab Fundamental U.S. Broad Market ETF

Several hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new stake in Schwab Fundamental U.S. Broad Market ETF during the third quarter worth about $26,000. Geneos Wealth Management Inc. increased its stake in Schwab Fundamental U.S. Broad Market ETF by 3,140.7% during the first quarter. Geneos Wealth Management Inc. now owns 2,787 shares of the company’s stock valued at $64,000 after acquiring an additional 2,701 shares during the period. Larson Financial Group LLC raised its holdings in Schwab Fundamental U.S. Broad Market ETF by 23.5% in the 3rd quarter. Larson Financial Group LLC now owns 3,088 shares of the company’s stock valued at $79,000 after acquiring an additional 588 shares in the last quarter. Elevated Capital Advisors LLC acquired a new position in Schwab Fundamental U.S. Broad Market ETF in the 4th quarter valued at approximately $86,000. Finally, Ameritas Advisory Services LLC lifted its position in shares of Schwab Fundamental U.S. Broad Market ETF by 348.2% in the 3rd quarter. Ameritas Advisory Services LLC now owns 5,096 shares of the company’s stock worth $131,000 after acquiring an additional 3,959 shares during the period.

About Schwab Fundamental U.S. Broad Market ETF

The Schwab Fundamental U.S. Broad Market Index ETF (FNDB) is an exchange-traded fund that is based on the Russell RAFI US index. The fund tracks a US equity index, selected and weighted based on three fundamental factors (sales, cash flow and dividends\u002Fbuybacks). FNDB was launched on Aug 8, 2013 and is managed by Charles Schwab.