Schwab Municipal Bond ETF (NYSEARCA:SCMB) Hits New 1-Year Low – What’s Next?

Schwab Municipal Bond ETF (NYSEARCA:SCMB) hit a new 52-week low on Monday . The stock traded as low as $24.48 and last traded at $24.5860, with a volume of 2014235 shares. The stock had previously closed at $24.56.

Schwab Municipal Bond ETF Price Performance

The firm has a 50 day moving average price of $25.20 and a 200-day moving average price of $25.49.

Institutional Trading of Schwab Municipal Bond ETF

Several hedge funds have recently added to or reduced their stakes in SCMB. Bank of America Corp DE lifted its stake in Schwab Municipal Bond ETF by 3,354.2% in the first quarter. Bank of America Corp DE now owns 21,959,386 shares of the company’s stock worth $559,525,000 after acquiring an additional 21,323,660 shares during the last quarter. Charles Schwab Trust Co raised its holdings in shares of Schwab Municipal Bond ETF by 11.1% in the 2nd quarter. Charles Schwab Trust Co now owns 1,055,202 shares of the company’s stock valued at $27,245,000 after purchasing an additional 105,691 shares in the last quarter. Fort Point Capital Partners LLC raised its holdings in shares of Schwab Municipal Bond ETF by 5.9% in the 4th quarter. Fort Point Capital Partners LLC now owns 762,050 shares of the company’s stock valued at $19,775,000 after purchasing an additional 42,573 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Schwab Municipal Bond ETF by 214.3% during the 1st quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock worth $7,661,000 after purchasing an additional 205,015 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of Schwab Municipal Bond ETF by 956.6% during the 2nd quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock worth $5,723,000 after purchasing an additional 200,658 shares during the last quarter.

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.