Wealth Enhancement Advisory Services LLC Raises Stake in Schwab Municipal Bond ETF $SCMB

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 245.7% during the 4th quarter, HoldingsChannel reports. The fund owned 489,805 shares of the company’s stock after buying an additional 348,114 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Schwab Municipal Bond ETF were worth $12,652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avidian Wealth Enterprises LLC boosted its position in shares of Schwab Municipal Bond ETF by 1,901.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,547,955 shares of the company’s stock worth $39,643,000 after purchasing an additional 1,470,600 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Schwab Municipal Bond ETF by 600.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 902,316 shares of the company’s stock worth $23,108,000 after purchasing an additional 773,503 shares in the last quarter. Charles Schwab Trust Co grew its stake in shares of Schwab Municipal Bond ETF by 9.4% in the 3rd quarter. Charles Schwab Trust Co now owns 802,133 shares of the company’s stock worth $20,543,000 after buying an additional 69,029 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in shares of Schwab Municipal Bond ETF by 3.4% in the 3rd quarter. Pallas Capital Advisors LLC now owns 780,936 shares of the company’s stock worth $20,000,000 after buying an additional 25,421 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Schwab Municipal Bond ETF by 32.8% during the 3rd quarter. Bank of America Corp DE now owns 602,985 shares of the company’s stock valued at $15,442,000 after buying an additional 148,996 shares in the last quarter.

Schwab Municipal Bond ETF Trading Down 0.2%

Shares of NYSEARCA:SCMB opened at $25.35 on Friday. The stock has a fifty day simple moving average of $25.87 and a two-hundred day simple moving average of $25.80. Schwab Municipal Bond ETF has a 12-month low of $24.21 and a 12-month high of $26.20.

Schwab Municipal Bond ETF Increases Dividend

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

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.