Royal Bank of Canada Reduces Stock Position in Schwab Municipal Bond ETF $SCMB

Royal Bank of Canada cut its position in Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 67.2% during the first quarter, Holdings Channel reports. The firm owned 51,418 shares of the company’s stock after selling 105,239 shares during the period. Royal Bank of Canada’s holdings in Schwab Municipal Bond ETF were worth $1,310,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Schwab Municipal Bond ETF by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,617,520 shares of the company’s stock valued at $1,690,307,000 after buying an additional 5,793,290 shares during the last quarter. Fort Point Capital Partners LLC raised its position in Schwab Municipal Bond ETF by 5.9% during the 4th quarter. Fort Point Capital Partners LLC now owns 762,050 shares of the company’s stock worth $19,775,000 after buying an additional 42,573 shares during the last quarter. Bank of America Corp DE raised its position in Schwab Municipal Bond ETF by 32.8% during the 3rd quarter. Bank of America Corp DE now owns 602,985 shares of the company’s stock worth $15,442,000 after buying an additional 148,996 shares during the last quarter. United Capital Financial Advisors LLC raised its position in Schwab Municipal Bond ETF by 23.3% during the 3rd quarter. United Capital Financial Advisors LLC now owns 569,983 shares of the company’s stock worth $14,597,000 after buying an additional 107,707 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Schwab Municipal Bond ETF by 143.5% during the 2nd quarter. Jane Street Group LLC now owns 522,022 shares of the company’s stock valued at $13,145,000 after acquiring an additional 307,645 shares during the period.

Schwab Municipal Bond ETF Stock Down 0.1%

SCMB stock opened at $25.31 on Friday. The firm’s fifty day simple moving average is $25.55 and its 200-day simple moving average is $25.66. Schwab Municipal Bond ETF has a 12 month low of $25.02 and a 12 month high of $26.20.

Schwab Municipal Bond ETF 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.