SCHD Dark Pool Activity
Schwab US Dividend Equity ETF
Data as of Oct 23, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Oct 23, 2026, FINRA reported 14.6M SCHD shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 6.6M of those shares (44.9%) were marked short or short-exempt, below SCHD's 30-day rolling average of 48.6% (z-score -0.48). Over the last 10 FINRA sessions (Oct 12, 2026 – Oct 23, 2026), SCHD's off-exchange short volume ratio ranged from 35.4% to 66.7% and averaged 49.3%; the latest reading is below that 10-session average.
Off-Exchange Volume
14.6M
Short Volume
6.6M
Short Volume Ratio
44.9%
30-Day Average
48.6%
z-score -0.48
Daily readings — last 10 FINRA sessions
| Date | Off-exchange shares | Short shares | Short ratio |
|---|---|---|---|
| Oct 12, 2026 | 11.3M | 4.0M | 35.4% |
| Oct 13, 2026 | 11.9M | 7.9M | 66.0% |
| Oct 14, 2026 | 14.1M | 6.5M | 46.0% |
| Oct 15, 2026 | 16.9M | 7.3M | 43.4% |
| Oct 16, 2026 | 15.4M | 8.0M | 51.8% |
| Oct 19, 2026 | 13.0M | 5.3M | 40.6% |
| Oct 20, 2026 | 12.6M | 8.4M | 66.7% |
| Oct 21, 2026 | 12.2M | 6.0M | 49.3% |
| Oct 22, 2026 | 17.2M | 8.4M | 49.0% |
| Oct 23, 2026 Latest | 14.6M | 6.6M | 44.9% |
Source: FINRA daily short sale volume (off-exchange). Ratio = ShortVolume ÷ TotalVolume for the day.
SCHD dark pool FAQ
- How much SCHD off-exchange volume did FINRA report on Oct 23, 2026?
- FINRA's daily short sale volume file reported 14.6M SCHD shares in publicly disseminated off-exchange trades on Oct 23, 2026; 6.6M of those shares (44.9%) were marked short or short-exempt.
- Is SCHD's dark pool short volume ratio unusual right now?
- As of Oct 23, 2026, SCHD's short volume ratio of 44.9% is below SCHD's 30-day rolling average of 48.6% (z-score -0.48). Meridian's dark pool model does not flag this reading as an anomaly.
- What does the dark pool short volume ratio measure?
- FINRA publishes daily short sale volume for trades reported off-exchange to its trade reporting facilities, which include dark pools and other off-exchange venues. The ratio divides FINRA's ShortVolume figure, which counts both short and short-exempt sales, by the total off-exchange shares reported for that day. It is not short interest and not a directional signal: market-maker hedging and reporting mechanics can raise it, so it is context for other signals.