Schwab Municipal Bond ETF (NYSEARCA:SCMB) Reaches New 12-Month Low – Here’s Why

Schwab Municipal Bond ETF (NYSEARCA:SCMB) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.56 and last traded at $24.5550, with a volume of 4947255 shares changing hands. The stock had previously closed at $24.63.

Schwab Municipal Bond ETF Stock Performance

The stock has a 50 day simple moving average of $25.29 and a 200 day simple moving average of $25.54.

Hedge Funds Weigh In On Schwab Municipal Bond ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Schwab Municipal Bond ETF by 3,354.2% during the 1st quarter. Bank of America Corp DE now owns 21,959,386 shares of the company’s stock worth $559,525,000 after buying an additional 21,323,660 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Schwab Municipal Bond ETF by 214.3% in the first quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock valued at $7,661,000 after buying an additional 205,015 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of Schwab Municipal Bond ETF by 956.6% during the second quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock valued at $5,723,000 after acquiring an additional 200,658 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Schwab Municipal Bond ETF during the first quarter valued at $4,552,000. Finally, Waverly Advisors LLC grew its position in shares of Schwab Municipal Bond ETF by 606.5% during the first quarter. Waverly Advisors LLC now owns 144,146 shares of the company’s stock worth $3,673,000 after acquiring an additional 123,744 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.