Schwab Municipal Bond ETF $SCMB Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 600.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 902,316 shares of the company’s stock after buying an additional 773,503 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.93% of Schwab Municipal Bond ETF worth $23,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SCMB. CWM LLC purchased a new position in shares of Schwab Municipal Bond ETF during the 3rd quarter worth $57,000. Raymond James Financial Inc. purchased a new stake in shares of Schwab Municipal Bond ETF in the second quarter valued at about $110,000. Chapman Financial Group LLC acquired a new stake in Schwab Municipal Bond ETF during the second quarter worth about $146,000. Alteri Wealth LLC acquired a new stake in Schwab Municipal Bond ETF during the third quarter worth about $207,000. Finally, Ameriprise Financial Inc. purchased a new position in Schwab Municipal Bond ETF during the third quarter worth about $221,000.

Schwab Municipal Bond ETF Trading Down 0.7%

NYSEARCA:SCMB opened at $25.35 on Wednesday. The company’s 50-day moving average is $25.90 and its two-hundred day moving average is $25.80. Schwab Municipal Bond ETF has a 1-year low of $24.21 and a 1-year high of $26.20.

Schwab Municipal Bond ETF Increases Dividend

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

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.