Verus Financial Partners Inc. Purchases New Stake in Schwab Municipal Bond ETF $SCMB

Verus Financial Partners Inc. acquired a new stake in Schwab Municipal Bond ETF (NYSEARCA:SCMB) in the third quarter, according to its most recent filing with the SEC. The fund acquired 48,690 shares of the company’s stock, valued at approximately $1,176,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Schwab Municipal Bond ETF by 3,354.2% during 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 in the last quarter. Avidian Wealth Enterprises LLC bought a new stake in shares of Schwab Municipal Bond ETF during the 3rd quarter valued at $53,927,000. Charles Schwab Trust Co raised its stake in shares of Schwab Municipal Bond ETF by 11.1% during 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 during the period. Envestnet Asset Management Inc. raised its stake in shares of Schwab Municipal Bond ETF by 18.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 860,999 shares of the company’s stock valued at $22,231,000 after purchasing an additional 134,613 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in 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 in the last quarter.

Schwab Municipal Bond ETF Price Performance

Shares of SCMB opened at $24.84 on Friday. Schwab Municipal Bond ETF has a 52-week low of $23.81 and a 52-week high of $26.20. The stock’s 50-day simple moving average is $24.57 and its 200 day simple moving average is $25.40.

Schwab Municipal Bond ETF 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.