Short Interest in Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) Drops By 55.8%

Schwab Fundamental U.S. Broad Market ETF (NYSEARCA:FNDB) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 87,348 shares, a drop of 55.8% from the May 31st total of 197,522 shares. Based on an average trading volume of 146,768 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s shares are sold short.

Schwab Fundamental U.S. Broad Market ETF Price Performance

NYSEARCA FNDB opened at $30.37 on Monday. The company has a market cap of $1.30 billion, a P/E ratio of 17.81 and a beta of 0.88. Schwab Fundamental U.S. Broad Market ETF has a 12 month low of $23.72 and a 12 month high of $30.86. The company has a 50-day moving average of $29.82 and a 200-day moving average of $28.32.

Hedge Funds Weigh In On Schwab Fundamental U.S. Broad Market ETF

A number of large investors have recently bought and sold shares of FNDB. Stifel Financial Corp grew its stake in shares of Schwab Fundamental U.S. Broad Market ETF by 2.2% during the 4th quarter. Stifel Financial Corp now owns 17,465 shares of the company’s stock valued at $464,000 after buying an additional 375 shares during the period. Townsend Asset Management Corp NC ADV raised its position in shares of Schwab Fundamental U.S. Broad Market ETF by 0.7% in the 1st quarter. Townsend Asset Management Corp NC ADV now owns 68,954 shares of the company’s stock worth $1,876,000 after buying an additional 448 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Schwab Fundamental U.S. Broad Market ETF by 4.8% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,974 shares of the company’s stock worth $265,000 after buying an additional 458 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Schwab Fundamental U.S. Broad Market ETF by 17.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,267 shares of the company’s stock valued at $87,000 after acquiring an additional 480 shares during the last quarter. Finally, MorganRosel Wealth Management LLC boosted its holdings in Schwab Fundamental U.S. Broad Market ETF by 1.6% in the fourth quarter. MorganRosel Wealth Management LLC now owns 31,468 shares of the company’s stock valued at $836,000 after acquiring an additional 494 shares during the last quarter.

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.