IFP Advisors Inc Increases Stock Holdings in Schwab Municipal Bond ETF $SCMB

IFP Advisors Inc increased its holdings in shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 240.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,603 shares of the company’s stock after acquiring an additional 30,798 shares during the period. IFP Advisors Inc’s holdings in Schwab Municipal Bond ETF were worth $1,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new position in shares of Schwab Municipal Bond ETF during the 4th quarter valued at approximately $26,000. McIlrath & Eck LLC acquired a new position in Schwab Municipal Bond ETF in the 4th quarter valued at $34,000. JDM Financial Group LLC acquired a new position in Schwab Municipal Bond ETF in the 4th quarter valued at $38,000. Raymond James Financial Inc. acquired a new position in Schwab Municipal Bond ETF in the 2nd quarter valued at $110,000. Finally, Larson Financial Group LLC raised its stake in Schwab Municipal Bond ETF by 426.7% in the 4th quarter. Larson Financial Group LLC now owns 5,235 shares of the company’s stock valued at $135,000 after purchasing an additional 4,241 shares during the last quarter.

Schwab Municipal Bond ETF Price Performance

NYSEARCA SCMB opened at $25.44 on Friday. The business has a fifty day moving average price of $25.59 and a 200 day moving average price of $25.77. Schwab Municipal Bond ETF has a one year low of $24.81 and a one year high of $26.20.

Schwab Municipal Bond ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, March 6th. Investors of record on Monday, March 2nd were paid a $0.0784 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a c) annualized dividend and a yield of 3.7%. This is an increase 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.