Schwab Municipal Bond ETF (NYSEARCA:SCMB) Sets New 1-Year Low – Time to Sell?

Shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $23.83 and last traded at $23.8860, with a volume of 283081 shares changing hands. The stock had previously closed at $24.06.

Schwab Municipal Bond ETF Stock Performance

The company has a 50 day moving average price of $24.88 and a 200 day moving average price of $25.36.

Hedge Funds Weigh In On Schwab Municipal Bond ETF

Several hedge funds and other institutional investors have recently bought and sold shares of SCMB. Bank of America Corp DE grew its holdings in Schwab Municipal Bond ETF by 3,354.2% in the first quarter. Bank of America Corp DE now owns 21,959,386 shares of the company’s stock valued at $559,525,000 after purchasing an additional 21,323,660 shares during the last quarter. Charles Schwab Trust Co raised its stake in shares of Schwab Municipal Bond ETF by 11.1% during the 2nd quarter. Charles Schwab Trust Co now owns 1,055,202 shares of the company’s stock worth $27,245,000 after buying an additional 105,691 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Schwab Municipal Bond ETF by 18.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 860,999 shares of the company’s stock worth $22,231,000 after buying an additional 134,613 shares during the last quarter. Fort Point Capital Partners LLC boosted its position in shares of Schwab Municipal Bond ETF by 5.9% in 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 in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Schwab Municipal Bond ETF by 214.3% in the 1st quarter. Quantinno Capital Management LP now owns 300,660 shares of the company’s stock worth $7,661,000 after buying an additional 205,015 shares in the last quarter.

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.