Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sets New 12-Month Low – Here’s What Happened

Schwab Municipal Bond ETF (NYSEARCA:SCMB) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $23.83 and last traded at $23.8860, with a volume of 283081 shares changing hands. The stock had previously closed at $24.06.

Schwab Municipal Bond ETF Stock Performance

The firm has a 50-day moving average price of $24.88 and a two-hundred day moving average price of $25.36.

Institutional Trading of Schwab Municipal Bond ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCMB. Integrated Wealth Concepts LLC acquired a new position in Schwab Municipal Bond ETF in the second quarter valued at $50,000. Root Financial Partners LLC increased its holdings in shares of Schwab Municipal Bond ETF by 41.9% in the 1st quarter. Root Financial Partners LLC now owns 4,354 shares of the company’s stock valued at $111,000 after acquiring an additional 1,285 shares during the period. Friedenthal Financial acquired a new stake in Schwab Municipal Bond ETF during the 1st quarter worth $133,000. Integrity Investment Advisors LLC purchased a new position in Schwab Municipal Bond ETF during the 4th quarter worth $212,000. Finally, RMG Wealth Management LLC purchased a new position in Schwab Municipal Bond ETF during the 1st quarter worth $237,000.

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.