Schwab Municipal Bond ETF (NYSEARCA:SCMB) Hits New 52-Week Low – Here’s Why

Schwab Municipal Bond ETF (NYSEARCA:SCMB) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $24.87 and last traded at $24.8660, with a volume of 496006 shares. The stock had previously closed at $24.91.

Schwab Municipal Bond ETF Trading Down 0.3%

The stock’s fifty day simple moving average is $25.38 and its two-hundred day simple moving average is $25.58.

Institutional Trading of Schwab Municipal Bond ETF

A number of large investors have recently modified their holdings of SCMB. Charles Schwab Investment Management Inc. increased its stake in shares of Schwab Municipal Bond ETF by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,617,520 shares of the company’s stock valued at $1,690,307,000 after purchasing an additional 5,793,290 shares during the period. Bank of America Corp DE lifted its holdings in Schwab Municipal Bond ETF by 3,354.2% in the 1st quarter. Bank of America Corp DE now owns 21,959,386 shares of the company’s stock valued at $559,525,000 after acquiring an additional 21,323,660 shares during the last quarter. Charles Schwab Trust Co boosted its holdings in Schwab Municipal Bond ETF by 11.1% during the second quarter. Charles Schwab Trust Co now owns 1,055,202 shares of the company’s stock worth $27,245,000 after buying an additional 105,691 shares in the last quarter. Fort Point Capital Partners LLC grew its position in Schwab Municipal Bond ETF by 5.9% in the fourth quarter. Fort Point Capital Partners LLC now owns 762,050 shares of the company’s stock worth $19,775,000 after buying an additional 42,573 shares during the last quarter. Finally, United Capital Financial Advisors LLC lifted its position in shares of Schwab Municipal Bond ETF by 23.3% during the 3rd quarter. United Capital Financial Advisors LLC now owns 569,983 shares of the company’s stock valued at $14,597,000 after acquiring an additional 107,707 shares during the last quarter.

About Schwab Municipal Bond ETF

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.