Fort Point Capital Partners LLC Decreases Stock Holdings in Schwab Municipal Bond ETF $SCMB

Fort Point Capital Partners LLC decreased its stake in shares of Schwab Municipal Bond ETF (NYSEARCA:SCMB) by 42.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 719,477 shares of the company’s stock after selling 522,031 shares during the period. Schwab Municipal Bond ETF comprises 2.2% of Fort Point Capital Partners LLC’s portfolio, making the stock its 11th largest holding. Fort Point Capital Partners LLC owned about 0.74% of Schwab Municipal Bond ETF worth $18,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in Schwab Municipal Bond ETF in the 3rd quarter worth approximately $57,000. Raymond James Financial Inc. bought a new position in shares of Schwab Municipal Bond ETF during the 2nd quarter valued at $110,000. Chapman Financial Group LLC purchased a new position in shares of Schwab Municipal Bond ETF in the 2nd quarter worth $146,000. Howe & Rusling Inc. purchased a new position in shares of Schwab Municipal Bond ETF in the 2nd quarter worth $206,000. Finally, Alteri Wealth LLC bought a new stake in shares of Schwab Municipal Bond ETF in the third quarter worth $207,000.

Schwab Municipal Bond ETF Trading Up 0.4%

Schwab Municipal Bond ETF stock opened at $25.72 on Monday. Schwab Municipal Bond ETF has a one year low of $24.21 and a one year high of $26.20. The stock has a fifty day moving average of $25.94 and a 200 day moving average of $25.78.

Schwab Municipal Bond ETF Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 6th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.0784 per share. The ex-dividend date was Monday, March 2nd. This represents a c) dividend on an annualized basis and a dividend 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.