Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sets New 52-Week Low – Should You Sell?

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

Schwab Municipal Bond ETF Price Performance

The firm has a 50-day simple moving average of $25.38 and a two-hundred day simple moving average of $25.58.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in shares of Schwab Municipal Bond ETF in the first quarter worth about $1,248,000. Jane Street Group LLC boosted its stake in Schwab Municipal Bond ETF by 125.0% during the first quarter. Jane Street Group LLC now owns 214,377 shares of the company’s stock worth $5,439,000 after buying an additional 119,105 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Schwab Municipal Bond ETF by 165.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 128,813 shares of the company’s stock valued at $3,244,000 after acquiring an additional 80,303 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in Schwab Municipal Bond ETF during the second quarter valued at approximately $569,000. Finally, Quantinno Capital Management LP bought a new stake in Schwab Municipal Bond ETF in the second quarter valued at $2,311,000.

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.