Fort Point Capital Partners LLC Reduces Holdings in Schwab Municipal Bond ETF $SCMB

Fort Point Capital Partners LLC trimmed its holdings in shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 42.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 719,477 shares of the company’s stock after selling 522,031 shares during the quarter. Schwab Municipal Bond ETF accounts for approximately 2.2% of Fort Point Capital Partners LLC’s portfolio, making the stock its 11th biggest holding. Fort Point Capital Partners LLC’s holdings in Schwab Municipal Bond ETF were worth $18,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CWM LLC bought a new position in Schwab Municipal Bond ETF in the third quarter worth approximately $57,000. Raymond James Financial Inc. purchased a new position in shares of Schwab Municipal Bond ETF during the 2nd quarter worth $110,000. Chapman Financial Group LLC bought a new stake in shares of Schwab Municipal Bond ETF during the 2nd quarter valued at $146,000. Howe & Rusling Inc. bought a new stake in shares of Schwab Municipal Bond ETF during the 2nd quarter valued at $206,000. Finally, Alteri Wealth LLC purchased a new stake in shares of Schwab Municipal Bond ETF in the 3rd quarter worth $207,000.

Schwab Municipal Bond ETF Stock Performance

NYSEARCA:SCMB opened at $25.72 on Monday. Schwab Municipal Bond ETF has a one year low of $24.21 and a one year high of $26.20. The business has a fifty day moving average price of $25.94 and a 200-day moving average price of $25.78.

Schwab Municipal Bond ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were given a $0.0784 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Schwab Municipal Bond ETF’s previous monthly dividend of $0.07. This represents a c) dividend on an annualized basis and a yield of 3.7%.

Schwab Municipal Bond ETF Company Profile

The Schwab Municipal Bond ETF (SCMB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks an index of USD-denominated, investment grade tax-exempt debt, issued by US states and territories with varying maturities. SCMB was launched on Oct 12, 2022 and is managed by Charles Schwab.