Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Strong Trading Volume – Here’s Why

Schwab Municipal Bond ETF (NYSEARCA:SCMB) shares saw unusually-strong trading volume on Wednesday . Approximately 10,639,683 shares were traded during mid-day trading, an increase of 559% from the previous session’s volume of 1,614,800 shares.The stock last traded at $24.2940 and had previously closed at $24.51.

Schwab Municipal Bond ETF Trading Down 1.0%

The stock has a 50-day moving average price of $25.15 and a 200 day moving average price of $25.47.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings 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 during the period. Charles Schwab Trust Co increased its holdings in 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 worth $27,245,000 after purchasing an additional 105,691 shares in the last quarter. Fort Point Capital Partners LLC raised its stake in shares of Schwab Municipal Bond ETF by 5.9% in the 4th quarter. Fort Point Capital Partners LLC now owns 762,050 shares of the company’s stock valued at $19,775,000 after purchasing an additional 42,573 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of 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 purchasing an additional 205,015 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of Schwab Municipal Bond ETF by 956.6% in the second quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock valued at $5,723,000 after purchasing an additional 200,658 shares in the last quarter.

Schwab Municipal Bond ETF Company 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.