Carnegie Investment Counsel Increases Stake in Schwab U.S. Large-Cap Growth ETF

Carnegie Investment Counsel has significantly increased its investment in the Schwab U.S. Large-Cap Growth ETF (NYSEARCA:SCHG), raising its position by an impressive 293.5% during the last quarter of 2024. According to recent filings with the Securities and Exchange Commission (SEC), the investment firm acquired an additional 11,980 shares, bringing its total holdings to 16,062 shares of the ETF.

As of the end of the fourth quarter, Carnegie Investment Counsel's total investment in SCHG was valued at approximately $448,000. This growth signals a strong confidence in the fund, particularly given the current market conditions.

Other institutional investors have also made adjustments to their holdings of the Schwab U.S. Large-Cap Growth ETF. For instance, Boyce & Associates Wealth Consulting Inc. increased its stake by 2.2% in the third quarter, now owning 5,080 shares worth $529,000 after buying 109 additional shares. Similarly, Evergreen Capital Management LLC raised its investment by 3.3% in the second quarter, acquiring 3,964 shares valued at $400,000 after a purchase of 126 shares. Blair William & Co. also contributed by increasing its holdings by 0.4%, resulting in ownership of 49,047 shares worth $4,946,000 after acquiring 189 additional shares.

Wescott Financial Advisory Group LLC increased its position by 3.1% in the same quarter, bringing its total to 6,917 shares valued at $698,000 after purchasing 211 more shares. Additionally, Evanson Asset Management LLC expanded its stake by 10.2%, now holding 3,023 shares valued at $315,000 after acquiring 280 shares.

Market Performance of Schwab U.S. Large-Cap Growth ETF

As of the latest trading session, the Schwab U.S. Large-Cap Growth ETF was trading up 1.3%, with shares opening at $28.29. The fund has a market capitalization of $8.27 billion and a PE ratio of 39.82, reflecting its growth potential. The 50-day moving average stands at $28.09, while the 200-day moving average is at $26.45. Over the past year, the ETF has seen a low of $20.85 and a high of $29.14, indicating fluctuations typical in the market.

Understanding Schwab U.S. Large-Cap Growth ETF

The main objective of the Schwab U.S. Large-Cap Growth ETF is to replicate the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. This index comprises the large-cap growth segment of the broader Dow Jones U.S. Total Stock Market Index, providing investors with exposure to prominent growth stocks in the U.S. equity market.

Conclusion

The activities of Carnegie Investment Counsel and other institutional investors in the Schwab U.S. Large-Cap Growth ETF reflect a strategic move towards growth-oriented investments, a trend that could indicate expectations for the market's future performance.

investment, ETF, market