Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sees Strong Trading Volume – Should You Buy?

by · The Markets Daily

Schwab Municipal Bond ETF (NYSEARCA:SCMB – Get Free Report) saw an uptick in trading volume on Wednesday. 10,639,683 shares changed hands 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 Stock Performance

The company has a 50-day moving average of $25.10 and a two-hundred day moving average of $25.45.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Schwab Municipal Bond ETF by 18.5% during the second quarter. Envestnet Asset Management Inc. now owns 860,999 shares of the company’s stock worth $22,231,000 after purchasing an additional 134,613 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Schwab Municipal Bond ETF during the 2nd quarter valued at $50,000. Waverly Advisors LLC grew its stake in shares of Schwab Municipal Bond ETF by 6.7% during the 2nd quarter. Waverly Advisors LLC now owns 153,858 shares of the company’s stock valued at $3,973,000 after buying an additional 9,712 shares during the period. Citadel Advisors LLC increased its holdings in shares of Schwab Municipal Bond ETF by 956.6% during the 2nd quarter. Citadel Advisors LLC now owns 221,635 shares of the company’s stock worth $5,723,000 after buying an additional 200,658 shares during the last quarter. Finally, Corient Private Wealth LP increased its holdings in shares of Schwab Municipal Bond ETF by 34.3% during the 2nd quarter. Corient Private Wealth LP now owns 16,875 shares of the company’s stock worth $436,000 after buying an additional 4,310 shares during the last quarter.

Schwab Municipal Bond ETF Company Profile

(Get Free Report)

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.

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